The three biomass power plants’ gross revenues expected to exceed $650m per year.
The first renewable plant is expected to commence production in next year, with plants two and three to be commissioned in 2013, and plants four and five will come online in 2014.
The company is seeking additional plant sites to meet targeted production of five million tonnes of biomass pellets per year by end of 2015.
The company said the biomass pellet market is expected to increase by 110 million tonnes per year by 2020.
Canada-based Biomass Secure Power has designed its biomass pellets plants to produce 250,000 tonnes of pellets per line.
The first plant will have the company’s Torrefication system, which will be capable of producing 50 to 80 tonnes per hour of Torrified pellets.
