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Investment of ₹2 lakh crore is expected to be made for setting up 5,000 Compressed bio-gas (CBG) projects in the country, according to Petroleum Minister Dharmendra Pradhan.
He was speaking at Memorandum of Understanding signing event for setting up 900 CBG plants in the country.
The agreements were signed to boost availability of affordable and clean transport fuels. This was under the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative.
These agreements were signed with energy companies namely JBM Group, Adani Gas, Torrent Gas and Petronet LNG for setting up of Compressed Bio-Gas (CBG) plants, and with technology providers in CBG sectors IndianOil, Praj Industries, CEID Consultants & Bharat Biogas Energy for facilitating availability of technology for the projects.
The SATAT initiatives envisages setting up of 5,000 CBG plants by 2023-2024 with production target of 15 million metric tonnes. Speaking at the event, Pradhan said, “Letter of intent for 600 CBG plants have already been given and with today’s signing of MoUs for 900 plants, a total of 1500 CBG plants are at various stages of execution.”
Pradhan said that ₹30,000 crore of investment is envisaged in these 900 plants. A total of 5,000 CBG plants with approximate investment of ₹2 lakh crore are planned. Biofuels have the potential to reduce India’s fuel import bill by ₹1 lakh crore.
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