REI Expo recorded investments worth 1850 cr in biogas sector: IBA

2 minutes of reading Last update: October 6, 2024 | 11:28 IST

Investments worth Rs 1,850 crore were made in the biogas sector during the Renewable Energy India (REI) Expo 2024 held from October 3-5 in Greater Noida, a top official of the Indian Biogas Association (IBA) said.

“IBA has secured anticipated investment commitments totaling Rs 1,850 crore through joint ventures (JVs), memorandums of understanding and letters of intent (LoIs) at the recently concluded Renewable Energy India (REI) Expo 2024, held on October 3-5 in Greater Noida,” IBA president Gaurav Kedia told PTI.

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Kedia reported that a total of 47 exhibitors representing 10 biogas producing countries participated in the REI Expo.

These investments, expected to be completed within 2-3 years, reflect strong international interest, particularly from countries such as Germany, Sweden and the United Kingdom, he said.

“We have signed MoUs (MoUs) worth over Rs 900 crore for joint ventures and received nearly 50 letters of intent to set up compressed biogas plants in India,” Kedia said.

Founded in 2011 and renewed in 2015, IBA serves as a nationwide platform for bioenergy operators, producers and planners, working with international organizations such as the German Biogas Association to promote the development of the biogas sector in India.

REI Expo, one of the largest renewable energy events in India, focuses on bioenergy, solar, wind, electric vehicles and energy efficiency technologies.

Supported by the Ministry of New and Renewable Energy (MNRE) and key industry players, Bioenergy Pavilion 2024 aimed to accelerate India’s progress towards net zero emissions.

IBA President Dr AR Shukla highlighted the success of this year’s fair, noting that MNRE’s active participation in the Bio-Energy Pavilion along with scientist from Sardar Swaran Singh National Institute of Bioenergy (SSS-NIBE) in Kapurthala boosted confidence in the bioenergy sector.

Shukla also stressed the need to emphasize on bioenergy, considering its holistic benefits, to unleash the potential of energy self-sufficiency.

He added that with the right political support, the bioenergy industry could completely replace fossil fuels.

(Only the headline and image of this report may have been reworked by the Business Standard team; the rest of content is automatically generated from a syndicated feed.)

First publication: October 6, 2024 | 11:28 IST