Gail India and Trualt Bioenergy, which are state-owned, will set up ten compressed biogas (CBG) plants with an investment of more than USD$72 million (€65.7 million), according to a joint statement released on 3 January.
The ten plants will be 51% owned by Trualt, with the remaining equities held by Gail.
The investment will be funded through a combination of debt and equity.
The proposed plants under the joint venture are expected to process over 600 million kilogrammes of organic waste like agricultural residue, sugarcane press mud, and spent wash — waste generated during ethanol production— to produce over 33 million kg of CBG, nearly 20 million kg of solid fermented organic manure and over 30 million kg of liquid fermented organic manure per annum, the companies said.
Gail director (business development) Rajeev Kumar Singhal said: “CBG has emerged as a viable alternative to imported fossil natural gas. The signing of the term sheet is a step in the right direction considering the emphasis on cleaner and greener fuel and the country’s vision of Atmanirbhar Bharat.”
TruAlt Bioenergy founder and managing director Vijay Nirani said: “We have been spearheading the production of ethanol and various other biofuels since 2012, to advocate for more sustainable energy practices. Through this partnership we aim to create a robust ecosystem for CBG in India allowing for a smooth transition to economical and ecological sources of energy.”
State-owned Indian companies announce $72m investment for ten biogas plants
