Swan Energy gets green nod for LNG terminal at Pipavav

Receives environment, CRZ clearances from MoEF for its Floating Storage, Regassification Unit based LNG import terminal proj near Pipavav

Mumbai-based green energy player, Swan Energy Ltd has today announced that the company has received environment clearance for its LNG terminal near Pipavav in Gujarat.

In a statement filed with the Bombay Stock Exchange (BSE), the company informed that it has received environment and CRZ clearances from the union ministry of environment and forests (MoEF) for its Floating Storage and regassification Unit (FSRU) - based LNG import terminal project near Pipavav, Gujarat.

Swan Energy Ltd (SEL) (erstwhile SWAN Mills Ltd.) is in the process of developing the first FSRU project for imports of LNG in India. The FSRU project is being implemented at existing Pipavav port in Gujarat. SEL, a listed company on Bombay Stock Exchange, is focused on energy sector for new investments with core business value of 'Sustainable Development'.

The company shares ended negative on BSE at Rs 141.65, down by close to 3.5 per cent from previous close.

State ports regulator, Gujarat Maritime Board (GMB) has selected the company as a developer for Greenfield LNG Port Terminal with FSRU at Jafrabad, Gujarat on built-own-operate-transfer (BOOT) basis. For the September quarter, Swan Energy posted net profit of Rs 4 crore with net sales of Rs 81.73 crore.

Swan Energy is an emerging green energy company with a pipeline of innovatively structured power projects.

The company is currently undertaking a gas-based energy projects in Gujarat through 49 per cent equity participation in special purpose company, Gujarat Pipavav Power Co (GPPC).