Indian Biogas Association gets investment commitments worth Rs 1,400 cr
Indian Biogas Association on Saturday said it has received investment commitments worth Rs 1,400 crore at Renewable Energy India Expo 2022.
“Indian Biogas Association (IBA), an industry association comprising of operators, manufacturers, and planners of biogas plants, announced that Renewable Energy India Expo 2022 has received the commitment of investment worth Rs 1,400 crore,” an IBA statement said.
The proposed minimum investment per plant ranges between Rs 10 and 50 crore, it added.
The association has received 60 confirmations from SATAT (Sustainable Alternative Towards Affordable Transportation) LOI (Letter of Intent) holders to set up biogas plants across the country.
The maximum applications were received from Uttar Pradesh, followed by Punjab.
The Bio-energy pavilion was supported by the Ministry of New and Renewable Energy, Niti Aayog, Punjab and Maharashtra Energy Development Agency (PEDA and MEDA).
The expo is one of the largest trade expositions and events focusing on renewable energy (bio-energy, solar, and wind) and energy efficiency technologies, including electric vehicles and battery storage.
The objective of the exhibition is to encourage the growth of renewable energy in the region through the association of technology and product sharing.
AR Shukla, President, Indian Biogas Association, said, “The REI expo is a huge success for the Biogas sector. We have received a record number of confirmations from the industry. The footfall to our Biogas pavilion was almost double our expectations. Uttar Pradesh industry has been receptive to the production of Biogas and the response is overwhelming for the sector”.
“The government’s impetus towards Bio-CNG is commendable and we are looking forward to the government’s support in the initial phase, in the form of Central Financial Assistance,” he added.
Gaurav Kedia, Chairman, Indian Biogas Association said, “We are thankful to our partners and Government for helping us make the Bio-energy pavilion in REI Expo a success. If the promised capacity during the REI is set up by 2025, the current total CBG production is around 1 lakh metric tons from around 110 plants across India”.
As per our estimates, the number of plants is expected to increase by a minimum of 500 in the next 2 to 3 years. This will result in an annual CBG production potential of more than 8.5 lakh metric tons, corresponding to an annual savings of more than USD 800 million, Kedia said.
The Indian Biogas Association is the first nationwide and professional biogas association for operators, manufacturers and planners of biogas plants, and representatives from public policy, science and research in India.
The association was established in 2011 and revamped in 2015 to promote a greener future through biogas. The motto of the association is “Propagating biogas in a sustainable way”.
The association is working with the German Biogas Association to foster the development of the Biogas sector in India.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Images are for reference only.Images and contents gathered automatic from google or 3rd party sources.All rights on the images and contents are with their legal original owners.