Bhoruka to foray into co-generation

The city-based Bhoruka Power Corporation plans to foray into co-generation of power by setting up a plant near Belgaum in Karnataka.

The Rs 61 crore firm plans to set up a 64 Mw co-generation plant using sugarcane bagasse.

"We are looking at state-owned cooperative sugar mills, which are not doing well. We will bid to take over a few in response to the government tenders. This will provide us with sugarcane bagasse to produce the power," said Bhoruka Power MD S Chandrasekhar.

The company is planning to invest about Rs 150 crore on the co-generation project.

Bhoruka Power, produces close to 100 Mw power through mini hydel and wind-based projects, is also foraying into carbon trading.

It expects a revenue of Rs 100 crore in the next five years through carbon trading.

The company's projects have been registered with United Nations Framework Convention on Climate Change (UNFCC). It will sell about 100,000 CER points during the next fiscal.