Feasibility study for Giant King Grass power plant to get underway

Energía Reino Verde ('Green Kingdom Energy'), which will own and operate the 12MW biomass power plant to be co-located with a 2,100 acre Giant King Grass (GKG) plantation in Nicaragua, has signed a contract with Pelican to conduct a formal feasibility study of the project.

Energía Reino Verde is a 50-50 partnership of Viaspace and prominent Nicaraguan partners. Pelican develops, builds and operates renewable energy projects in Nicaragua and the region, including biomass, hydroelectricity and solar.

Dr. Carl Kukkonen, Viaspace CEO, comments: 'The feasibility study will build on and validate our internal prefeasibility study, business plan and financial model. We plan to have the feasibility study completed in 90 days.'

Viaspace chairman, Dr Kevin Schewe, adds: 'Simultaneous with the formal feasibility study, we are working on the financing for the Energia Reino Verde 12MW biomass power plant. We see this project as our prime business model both from the economic standpoint of co-locating the power plant and GKG plantation, as well as Viaspace supplying GKG and partnering in the power plant revenues.'