The Indian Biogas Association (IBA) has received investment pledges worth Rs 2,755 crore during the recently held REI Expo 2023. The association has signed joint ventures (JVs), memorandums of understanding (MoUs), and letters of intent (LoIs) with companies from India and abroad, including Germany, Sweden, and Italy.
The investments are expected to be realized in the next three years and will go towards setting up compressed biogas plants across the country. This will help to reduce India’s reliance on fossil fuels and promote renewable energy.
The announcement of the Global Biofuel Alliance by the G20 Nations has brought in a positive sentiment within the industry. He also noted that the sector has been demanding a nodal ministry or organization on the lines of the National Skills Development Organisation, from the government, considering there is huge potential to be self-sufficient in energy in the years to come.
The IBA is a professional association for operators, manufacturers, and planners of biogas plants in India. It was established in 2011 and revamped in 2015 to promote a greener future through biogas. The association is working with several international organizations to foster the development of the bio-energy sector in India.
The biogas industry has the potential to help India replace fossils completely, if the right kind of push is made towards its development. The industry is demanding a nodal ministry or organization from the government to help it achieve its full potential.
This is a Syndicate News-Feed; fake checked and edited by Clean-Future Team