Indian Biogas Association secures Rs 2,755 cr investments at REI Expo 2023

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Indian Biogas Association secures Rs 2,755 cr investments at REI Expo 2023

Indian Biogas Association secures Rs 2,755 cr investments at REI Expo 2023

Industry News
Oct 18,23

Gaurav Kedia, Chairman of IBA, revealed that the association, representing bioenergy plant operators, manufacturers, and planners, received these commitments during the expo.

Indian Biogas Association secures Rs 2,755 cr investments at REI Expo 2023

At the Renewable Energy India Expo 2023, the Indian Biogas Association (IBA) secured significant investments totalling Rs 2,755 crore. Gaurav Kedia, Chairman of IBA, revealed that the association, representing bioenergy plant operators, manufacturers, and planners, received these commitments during the expo. The investments were pledged through joint ventures, memorandums of understanding (MoUs), and letters of intent (LoIs) signed during the event held at Greater Noida from October 4 to 6.

These investments, expected to materialise within the next three years, were made by companies from various countries such as Germany, Sweden, and Italy. Kedia highlighted that IBA signed MoUs amounting to over Rs 1,000 crore for joint ventures and received interest for 54 additional LoIs to establish compressed biogas plants in India.

Established in 2011 and revamped in 2015, IBA serves as the premier national biogas association, involving operators, manufacturers, planners, and representatives from public policy, science, and research in India. The association collaborates with international organisations like the German Biogas Association to foster India's bio-energy sector development.

Supported by the Ministry of New and Renewable Energy and key national and international industry players, the Bio-energy pavilion at the expo showcased renewable energy technologies, including bio-energy, solar, wind, electric vehicles, and battery storage. This exhibition, one of India's largest, aims to accelerate the country's progress toward achieving net-zero emissions.

AR Shukla, President of IBA, hailed the success of the REI expo, particularly in light of the announcement of the Global Biofuel Alliance by the G20 Nations. He emphasised the need for a dedicated government ministry or organisation, similar to the National Skills Development Organisation, to unlock the vast potential of the biogas industry. Shukla asserted that with proper support, the biogas sector could entirely replace fossil fuels, contributing significantly to India's energy self-sufficiency in the years ahead.

Source: Business Line