ONGC, EverEnviro form ‘Joint Venture’ to set up 10 CBG plants in India
By harnessing diverse feedstocks such as agri waste, agro-industrial waste, energy crops, and municipal solid waste (MSW), the partnership aims to mitigate approximately 7.5 lakh tons of CO2 equivalent annually.
Renewable gas conglomerate EverEnviro Resource Management Pvt. Ltd. and state-owned ONGC have announced to have formed a joint venture (JV) to set up 10 Compressed Biogas (CBG) plants across India. The two companies have inked a an MoU for the same.
EverEnviro held that these plants, being set up in the first phase, are expected to reduce India’s reliance on imported gas and boost domestic renewable energy production.
The 50:50 JV between ONGC and EverEnviro aligns with the Government of India’s initiatives, including the Global Bio-Fuels Alliance and the ambitious goal of achieving Net Zero carbon emissions by 2070. By harnessing diverse feedstocks such as agri waste, agro-industrial waste, energy crops, and municipal solid waste (MSW), the partnership aims to mitigate approximately 7.5 lakh tons of CO2 equivalent annually.
Satyan Kumar, Executive Director, Chief Corporate Strategy, ONGC, said, “Alternative fuels like biogas play a pivotal role in meeting our country’s energy demands while promoting circular economy principles and effective waste management. ONGC has set sights on being Net Zero by 2038 and hence we recognize the urgency of transition to clean energy by utilizing agro-industrial waste and municipal solid waste.”
Deepak Agarwal, Executive Director, BD and Strategy, EverEnviro mentioned, “Our collaboration with ONGC, represents a significant milestone in our journey toward advancing renewable energy production in India. These projects will give a fillip to key government initiatives such as GOBARdhan scheme, Waste to Wealth, Make in India, Circular Economy, and Atmanirbhar Bharat. We are confident that our partnership will make a substantial impact in the CBG sector. The fermented organic manure produced as byproduct of CBG will promote regenerative agriculture, enhancing soil health and fertility in the catchment areas.”
EverEnviro has set a target to establish more than 100 CBG plants across India based on diverse feedstock. The organisation is already executing 20+ CBG projects across Madhya Pradesh, Uttar Pradesh, Delhi, and Punjab with a significant capital investment of nearly Rs 2,000 Crores which will result into a robust output of 320 metric tons per day of CBG.
EverEnviro had recently announced that its CBG plant in Indore, the largest in the country, has clocked the 100 per cent utilisation level.
