Monday, October 3rd, 2022 16:35:19

Rs. 2 lakh crore to be invested for 5000 Compressed bio-gas, says Petroleum Minister Dharmendra Pradhan

Updated: November 21, 2020 11:08 am
To boost availability of affordable and clean transport fuels, a MoU was signed on Friday between MoPNG and leading oil & gas marketing companies & technology providers to establish Compressed Bio-Gas CBG) plants across India under the Sustainable Alternative Towards Affordable Transportation (SATAT) initiative, in the presence of Union Minister of petroleum and Natural Gas & Steel Dharmendra Pradhan.MoUs  were signed with energy companies viz. JBM Group, Adani Gas, Torrent Gas and Petronet LNG for setting up of Compressed Bio-Gas (CBG) plants,and with technology providers in CBG sectors IndianOil, Praj Industries, CEID Consultants & Bharat Biogas Energy for facilitating availability of technology for the projects.

Government of India, under the SATAT initiatives envisages setting up of 5000 CBG plants by 2023-24 with production target of 15 MMT, facilitating the creation of new employment opportunities and enhancing farmers’ income towards further invigorating the rural economy.

Speaking about SATAT, Pradhan said, “We have developed a clear-cut roadmap for SATAT. I am glad to note that Indian industry players have shown immense interest in SATAT. Letter of intent for 600 CBG plants have already been given and with today’s signing of MoUs for 900 plants, a total of 1500 CBG plants are at various stages of execution. Rs 30,000 Cr of investment is envisaged in these 900 plants. A total of 5000 CBG plants with approximate investment of Rs. 2 lakh crores are envisaged. Biofuels have the potential to reduce our fuel import bill by Rs. 1 lakh crore.”

Elucidating the benefits of SATAT, Minister Pradhan said, “Benefits out of the SATAT will go to our farmers, rural areas and tribals. With inclusion of forest waste, Agri-waste, animal husbandry waste and marine waste, SATAT involves a multi-pronged approach. With liberalized policy regime ensuring ease of doing business for entrepreneurs, off-take guarantee, financing and technology support, SATAT is all set to contribute towards doubling farmer’s income, generating employment for the youth and ensuring clean energy for sustainable development.

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