In a significant move, India’s leading energy giant, the Indian Oil Corporation (IOCL), has given the green light to two groundbreaking joint ventures aimed at revolutionizing the production of compressed biogas (CBG). The decision, unveiled on Friday, signals a major stride toward the realization of the Indian government’s ambitious plan to establish 5,000 commercial CBG plants by 2024-25, as part of the Sustainable Alternative Towards Affordable Transport (SATAT) scheme.
According to a regulatory filing, the IOCL board of directors has granted its approval for these strategic collaborations with prominent private sector entities specializing in environmental and sustainable solutions, EverEnviro Resource Management Pvt Ltd, and clean fuel technology pioneers, GPS Renewables Pvt Ltd. These joint ventures will see IOCL or one of its subsidiary companies partnering with the aforementioned firms, with each party holding an equal 50 percent stake.
However, it’s important to note that the final clearance for this decision is contingent upon approvals from key authorities such as the NITI Aayog and the Department of Investment and Public Asset Management (DIPAM).
Launched in 2018, the SATAT initiative seeks to incentivize the production of compressed biogas derived from a diverse range of biomass sources. Despite initial challenges, including the establishment of only 46 CBG plants to date, the Ministry of Petroleum and Natural Gas remains confident in achieving the monumental goal of setting up 5,000 CBG plants and producing 15 million metric tonnes of CBG by 2025.
As of the conclusion of the fiscal year 2022-23, IOCL had successfully commissioned 22 CBG plants, facilitating the distribution of biogas through 46 Indigreen outlets. Among these milestones, a remarkable 200-tonnes-per-day (TPD) CBG plant has been established in Gorakhpur, utilizing agricultural crop residue to offer an eco-friendly solution for rice straw disposal. Additionally, in Hingonia, near Jaipur, a 100-TPD CBG plant, powered by cattle dung, is now operational at the Hingonia Cattle Rehabilitation Centre.
About Indian Oil:
The Indian Oil Corporation Limited (IOCL) is an Indian conglomerate in the oil and gas sector, operating as a government-owned entity under the Ministry of Petroleum and Natural Gas, which is part of the Government of India. IOCL has its corporate headquarters situated in New Delhi and functions as a public sector enterprise, subject to regulatory oversight by the Ministry of Petroleum and Natural Gas.
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