Velcan Energy Acquires Biomass Power Plant in India

Paris, France and Bangalore, India [] Velcan Energy becomes the first French electric utility in India, with 100% ownership of an Indian power plant. Following the acquisition of Indian company Satya Maharshi Power Corporation Ltd., Velcan Energy India Ltd., subsidiary of French green energy company Velcan Energy, takes possession of a 7.5 MW power plant in the Indian state of Andhra Pradesh, enabling it to start up electricity generation operations in India 12 months earlier than initially planned. The Satya Maharshi power plant was commissioned in July 2004, and runs off agricultural residues bought from the local population. Cotton stick and rice husk are the two main fuels. Electricity is sold under a ten-year contract to Aptransco, the Andhra Pradesh State department responsible for electricity supply.
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