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Validation of Southern Online's biodiesel project on
HYDERABAD: German Technical Cooperation (GTZ) has given approval for funding the validation process of the biodiesel project of Southern Online Bio Technologies (SBT) under gold standards. According to a release issued here on Monday, GTZ works under German Government, and encourages environment friendly projects by extending such support. Satish Kumar, Managing Director of SBT, said they received the approval letter, and in turn signed agreement with DNV, a Denmark company for validation of their biodiesel project. He said GTZ already spent Rs. 13 lakhs on SBT for obtaining host country approval, and would now be spending Rs. 6 lakhs. Once validation is complete SBT expects Rs. 6 crores extra revenue per year through the sale of carbon emission reductions (CERs). He said SBT already received a letter of intent from a German-based buyer for the CERs.
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