By partnering with sugar mills, SREC secures ownership of a captive agricultural waste (bagasse) which it can efficiently utilize in order to satisfy the sugar mill’s internal heat and power requirements whilst producing clean power for export. SREC plans to build a portfolio of more than 500MW of sustainable biomass projects by forming joint ventures with a number of leading sugar companies. To achieve this, SREC will invest in the installation of modern and highly efficient cogeneration equipment at existing or newly setup sugar mills, thereby maximizing the generation (and export) of clean power from the bagasse generated in the sugar mills.
While the sugar company contributes its power assets, SREC contributes capital and expertise to install modern and efficient equipment, hence significantly increasing power generating capacity. The projects benefit from a secure and captive fuel supply base comprising 100% of the host’s bagasse supplemented, if necessary, by biomass from within their area of sugar cane supply to allow for extended power generation beyond the sugar cane season. During the modernization process the existing plants remain in operation, generating revenue if there is a grid connection allowing them to export surplus power.
Listed below are SREC’s sustainable biomass projects: