REI Expo saw Rs 1,850-cr investments committed for biogas sector: IBA
At the Renewable Energy India (REI) Expo 2024, the Indian Biogas Association (IBA) secured investment commitments totaling Rs 1,850 crore for biogas projects through joint ventures, MoUs, and LoIs. International interest, especially from Germany, Sweden, and the UK, was strong. The investments, set to be completed within 2-3 years, aim to boost India’s bioenergy sector and support its net-zero goals.
New Delhi: A top official from the Indian Biogas Association (IBA) announced that Rs 1,850 crore has been pledged for investments in the biogas sector at the Renewable Energy India (REI) Expo 2024, which took place in Greater Noida from October 3-5. IBA Chairman Gaurav Kedia informed PTI that at the recently concluded Renewable Energy India (REI) Expo 2024 in Greater Noida from October 3 to 5, the IBA has secured expected investment commitments amounting to Rs 1,850 crore through JVs, MoUs, and LoIs.
Kedia reported that the REI Expo had participation from 47 exhibitors representing 10 countries that produce biogas. He stated that the strong international interest in these investments, expected to be completed within 2-3 years, is especially coming from countries like Germany, Sweden, and the UK. Kedia mentioned that they have agreed to MoUs totaling more than Rs 900 crore for collaborative projects and have also obtained nearly 50 LoIs for setting up compressed biogas plants in India. Established in 2011 and restructured in 2015, the IBA functions as a countrywide forum for individuals involved in bioenergy, such as operators, manufacturers, and planners. It collaborates with global entities like the German Biogas Association to support the development of the biogas industry in India. The REI Expo, one of India’s biggest renewable energy events, highlights bioenergy, solar, wind, electric vehicles, and energy efficiency technologies.
Backed by the Ministry of New and Renewable Energy (MNRE) and major industry stakeholders, Bio-Energy Pavilion 2024 aimed at speeding up India’s journey towards achieving net-zero emissions. IBA President Dr A R Shukla emphasized the positive outcome of this year’s expo, pointing out that MNRE’s involvement in the Bio-Energy Pavilion alongside Sardar Swaran Singh National Institute of Bio-Energy (SSS-NIBE) scientists from Kapurthala has increased trust in the bioenergy industry.
Source Link : https://www.business-northeast.com/rei-expo-saw-rs-1-850-cr-investments-committed-for-biogas-sector-iba
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