Ramcharan Co wins $2.2-bn order for waste-to-energy units from Ghana

Comes close to securing $4.14 billion from TFCC International

Days after announcing a $4.14-billion investment from the US-based fund TFCC International earlier this month, Chennai-based firm Ramcharan Co Pvt Ltd said on Friday it had signed a deal worth $2.2 billion with Ghana-based Masri Company Ltd to supply its waste-to-energy units to generate about 300 mega watt (MW) of power to the African country.

This translates to about Rs 50-55 crore per mega watt and is much higher as compared to the reported cost of setting up solar (Rs 4.5 crore per MW), wind (Rs 5.5 crore) and the existing gasification waste-to-energy units (Rs 15-18 crore per Mw) in India. The company said that the cost is not not only to generate power but to use the aggregated waste as part of a circular economy.  

The execution of the deal is expected to commence in November 2022, with the setting up of units across Ghana, over a period of two years. The agreement and delivery of waste-to-energy services will be delivered under the brand name ‘Entity One’.

“In keeping with our mission of processing bulk waste-to-energy without leaving behind any residue, we have successfully signed our first agreement to supply our units to the Masri Company in Ghana. In keeping with our overall objective we are confident that our objective of delivering waste-to-energy products and new generation energy storage devices will help the environment in a significant manner,” said Kaushik Palicha, director of Ramcharan Co.

"The cost comes almost close to the Indian cost only if you look at the other revenue streams like recycled materials in Ghana," he added.  

The agreement comes after the investment by TFCC International for a 46 per cent equity in Ramcharan recently for investment into an environment-to-energy management systems and renewable energy devices with high storage capacity made from sodium silicate.

The technology, according to Ramcharan, can be used to convert all types of un-segregated waste-to-energy, with zero residues to the environment, making it the first of its kind globally and also the safest.