Gruner Renewable Energy Secures $60 Million to Expand Compressed BioGas Projects
Gruner Renewable Energy, a prominent player in India’s sustainable biogas sector, has announced that it has secured US$ 60 million in funding. This substantial investment is set to accelerate the company’s expansion of Compressed BioGas (CBG) plants nationwide, aligning with India’s push towards energy independence and sustainability.
Utkarsh Gupta, Founder & CEO of Gruner Renewable Energy, highlighted the critical role of CBG in reducing reliance on imported compressed natural gas (CNG) and supporting Prime Minister Narendra Modi’s vision for a self-reliant and sustainable India. Gupta remarked, “Establishing CBG plants in India is crucial for fostering a self-reliant and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we contribute significantly to India’s vision of energy independence.”
The investment comes at a time when the Union Budget 2023-24 has outlined plans to establish 500 new waste-to-wealth plants under the GOBARdhan initiative. With 113 operational CBG plants, 667 in development, and 171 under construction, the sector is poised for substantial growth. Gupta emphasized, “These policy enablers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential for driving this transformation.”
Gruner plans to channel the new funds into enhancing its operations and market presence, focusing heavily on research and development (R&D). The company aims to introduce breakthrough technologies and efficient processes in the biogas industry, significantly increasing energy output efficiency. The investment will also support the establishment of new biogas plants across India, the expansion of CNG retail outlets, and exploration into new business verticals such as sustainable aviation fuel (SAF) and green hydrogen.
“As the Modi 3.0 government has taken charge, the biofuels industry anticipates policy reforms that will facilitate the expansion of new CBG projects nationwide,” Gupta added. He stressed the importance of government support in achieving these goals, including subsidies, tax credits, and substantial funding for R&D. “Biofuels will be essential in helping the country achieve its net zero ambitions. Government subsidies, tax credits, and substantial funding for R&D will be crucial in leveraging the opportunities inherent in CBG projects.”
Gupta also called for direct subsidies and financial incentives for farmers to encourage the cultivation of energy crops, ensuring a steady supply of feedstock for biogas production. “This approach not only supports the agricultural sector but also ensures a steady supply of feedstock for biogas production. By providing these incentives, the government can promote sustainable farming practices and contribute to the growth of the renewable energy sector.”
In a testament to its commitment to a cleaner and greener future, Gruner Renewable Energy is also in the process of establishing Asia’s largest CBG plant in Navsari, Gujarat.
