Lakshmi Energy and Foods Ltd (formerly Lakshmi Overseas Industries Ltd) is expanding its renewable energy operations by setting up three more biomass-based power plants of 60 mw each in Punjab.
The plants with a total generation capacity of 180 mw will come up in the next three to four years. The state government has already granted single-window clearance to the company along with certain incentives.
Union Minister for New and Renewable Energy Dr. Farooq Abdullah laid the foundation stone of the first of the three biomass projects on December 15. The 60-mw plant is coming up next to its existing 30-mw biomass plant on the Chandigarh-Ludhiana national highway at Khamano. The 30-mw plant was commissioned a year ago.
"The proposed plant will be set up next to our existing state-of-the-art food grains processing factory in the state," said Darshan Singh, General Manager, Lakshmi Energy and Foods Ltd. "Phase-I of the project is estimated to cost
about Rs 360 crore that will be financed through internal accrual and debt."
Lakshmi Energy and Foods plans to create energy hubs at different locations in Punjab, using husk as fuel instead of coal, the conventional fue.