Indian Biogas Association Receives Pledge For New Investments Worth Rs 2,755 Crore

The industry body including operators, manufacturers, and bioenergy plant planners received the investment commitments during the Renewable Energy India Expo, the IBA chairman stated. 

The IBA is collaborating with many global organisations like the German Biogas Association to encourage the development of the bio-energy sector in India. ( Image Source :Getty )

The Indian Biogas Association (IBA) received commitments for new investments worth Rs 2,755 crore at the recently organised Renewable Energy India Expo 2023. The industry body including operators, manufacturers, and bioenergy plant planners received the investment commitments during the Expo, the IBA’s chairman stated. 

Talking to PTI, Gaurav Kedia, IBA chairman, revealed that the body signed agreements with various entities. The associated body entered joint ventures (JVs), and memorandum of understanding (MoUs), and received letters of intent (LoIs) commitments during the REI Expo held from October 4 to 6. 

Kedia further stated that companies from various countries like Germany, Sweden, and Italy showed huge interest. “The industry has made this promise, which is expected to be realised in the next three years. We have signed several MoUs amounting to more than Rs 1,000 crore of JVs and could get an interest for an additional 54 LoIs for setting up of compressed biogas plants in the country,” he said.

Notably, the IBA is the first national and professional biogas association for operators, manufacturers, and planners of biogas plants. The body also includes representatives from public policy, science, and research in the country. It was set up in 2011 and revamped in 2015 to encourage a green and sustainable future through biogas. 

The IBA is collaborating with many global organisations like the German Biogas Association to encourage the development of the bio-energy sector in India. The Bio-energy pavilion received support from the Ministry of New and Renewable Energy and many leading national and global industry players. 

This expo was one of the largest trade expositions and platform focused on renewable energy, including bio-energy, solar, and wind, and energy efficiency technologies, including electric vehicles and battery storage. The report further noted that this exhibition aimed at taking forward India’s commitment towards net zero emission. 

A R Shukla, IBA President, said, “This year's REI expo was a huge success considering the announcement of the Global Biofuel Alliance by the G20 Nations. This has brought in a positive sentiment within the industry.” The president also highlighted that the industry has been asking the government for a nodal ministry or organisation on the lines of the National Skills Development Organisation, stating that there is a huge potential of being self-sufficient in energy in the upcoming years. The body head noted that the biogas industry could provide the answer to help replace fossil fuels permanently, if the sector receives the correct push.