The Renewable Energy India Expo 2023 bore witness to a substantial commitment of Rs 2,755 crore in new investments to the Indian Biogas Association (IBA). Gaurav Kedia, Chairman of IBA, revealed that the association, representing operators, manufacturers, and bioenergy plant planners, successfully secured these investments during the Expo.
The investments took the form of joint ventures (JVs), memoranda of understanding (MoUs), and letter of intent (LoI) commitments, with a projected realization over the next three years. Kedia highlighted the enthusiastic participation from companies in countries such as Germany, Sweden, and Italy, resulting in several MoUs for over Rs 1,000 crore in JVs and expressions of interest for 54 LoIs to establish compressed biogas plants in India.
The Indian Biogas Association, established in 2011 and revamped in 2015, is the country’s premier biogas association, uniting stakeholders in biogas plant operations, manufacturing, planning, as well as representatives from public policy, science, and research. Collaborating with international organizations like the German Biogas Association, the IBA is committed to advancing the bio-energy sector in India.
The Bio-energy pavilion at the expo, supported by the Ministry of New and Renewable Energy and various national and international industry leaders, served as a focal point for showcasing renewable energy, including bio-energy, solar, wind, and energy efficiency technologies like electric vehicles and battery storage.
The exhibition’s primary objective is to accelerate India’s efforts toward achieving net-zero emissions. A.R. Shukla, President of IBA, emphasized the success of this year’s REI Expo, particularly following the announcement of the Global Biofuel Alliance by the G20 Nations, which has instilled a positive sentiment within the industry.
The biogas sector has been advocating for the establishment of a dedicated ministry or organization, similar to the National Skills Development Organisation, recognizing the significant potential for energy self-sufficiency in the years to come. Shukla asserted that with the right impetus, the biogas industry could offer a viable solution to entirely replace fossil fuels.