PEDA to Build 10 Biogas Plants in Partnership with HPCL

Punjab Energy Development Agency (PEDA) and Hindustan Petroleum Corporation Limited (HPCL) have signed a Memorandum of Understanding (MoU) to collaborate on the establishment of 10 compressed biogas (CBG) plants and other renewable energy projects across Punjab.

In the presence of Ravi Bhagat, Secretary of New and Renewable Energy Sources in Punjab, the Memorandum of Understanding was signed by Amarpal Singh, Chief Executive Officer of PEDA, and Shuvendu Gupta, Executive Director of HPCL for Bio-fuels and Renewables.

HPCL intends to explore the feasibility of additional new and renewable energy initiatives within the state. HPCL is set to make an initial investment of Rs 600 crore to establish the ten CBG plants, which are projected to yield an annual output of over 35,000 tonnes of biogas and 8,700 tonnes of organic fertilizer. This will result in an annual revenue of approximately Rs 300 crore from CBG production.

Also Read:- DC Kathua Flags Off Millet Promotion Campaign with Walkathon to Raise Awareness of Benefits

The projects are also expected to generate more employment opportunities and generate a profitable income. In addition to the environmental benefits of reducing pollution and preventing the burning of paddy straw, the projects are also expected to create significant economic benefits for the state of Punjab.

Amarpal Singh also highlighted that these ten projects will play a critical role in preventing the burning of 2.75 lakh tonnes of paddy straw across 1.10 lakh acres of land. Additionally, this environmentally friendly initiative is expected to prevent approximately 5 lakh tonnes of CO2 emissions and other pollutants annually, which is equivalent to planting 83,000 trees each year. 

Also Read:- Netafim India Launches Affordable, Durable Drip Irrigation Technology for Farmers

Furthermore, the projects will create approximately 50 rural entrepreneurs who will supply paddy straw to these plants, generating employment opportunities for over 500 people.

Therefore, the ten biogas plants will help to reduce pollution, protect the environment, and boost the local economy.

Also Read:- NABARD Steps In to Support Kerala Farmers with Rs 500 Cr Loan at Subsidised Interest Rate