The Indian Biogas Association (IBA), a consortium of stakeholders in the biogas sector, anticipates attracting foreign investments totalling Rs 1,500 crore within the next year. Gaurav Kumar Kedia, the chairman of IBA, shared in an interview on November 21 that this surge in interest from international companies stems from their growing fascination with technological and equipment-related collaborations. Kedia highlighted a substantial 60-70% increase in company involvement in biogas plant development in the country throughout the current year, compared to 2022. This trend aligns with the escalating global emphasis on green energy to fulfill climate objectives.

During the Renewable Energy India Expo 2023, investment agreements amounting to Rs 2,755 crore were sealed, nearly double the figures from the previous year, as reported by IBA. Established in 2011 and restructured in 2015 to champion a more environmentally friendly future through biogas, IBA encompasses operators, manufacturers, and planners of biogas plants, along with representatives from public policy, science, and research in India.

From the perspective of the association, Kedia expressed the expectation of approximately Rs 1,500 crore in foreign direct investments (FDI) within a year, emphasising the interest of numerous companies in launching substantial projects in India.

IBA has set a target of having around 2,000 operational compressed biogas (CBG) plants in the country by 2030. This forecast coincides with the heightened interest in CBG, recognised globally as a compelling solution for the imperative shift toward cleaner energy. Major conglomerates such as Reliance Industries and the Adani Group have shown significant interest in CBG, aligning with the government's goal of establishing 5,000 CBG plants by 2024-25, producing 15 million metric tonnes (MMT).

Reliance Industries, for instance, aims to establish 100 CBG plants in the next three years, utilising 5.5 MMT of agricultural residue and organic waste. Additionally, German companies have expressed interest in providing technological and equipment support for biogas plant setups in India. This interest was evident in discussions between Union Minister of Petroleum and Natural Gas Hardeep Singh Puri and the CEO of the German Biogas Association earlier this month, particularly addressing the issue of stubble burning.

Compressed biogas (CBG) has recently emerged as a sustainable substitute for imported natural gas in India's pursuit of a low-carbon future. Common raw materials for CBG production include agricultural residues, animal manure, food and yard waste, energy crops, and sewage sludge. Through anaerobic decomposition, these materials generate biogas, which is then purified into primarily methane gas. Subsequently, this gas undergoes compression at high pressure to produce CBG.

Source: moneycontrol.com