HPCL invests $231 Million to build 24 compressed Biogas Plants in India
A company official revealed on Friday that the Indian state fuel retailer Hindustan Petroleum Corp Ltd. (HPCL) plans to invest around 20 billion rupees (about $231.04 million) over the next two or three years in order to build 24 compressed biogas plants (CBG).
India, one of the largest emitters of greenhouse gases in the world, is looking at the use of organic materials to make cleaner fuels, as part of efforts to reduce emissions of carbon and reach its net-zero goal of 2070.
HPCL Renewable and Green Energy Ltd is the HPCL subsidiary executing the project. It has already installed two plants and will install 24 more with a capacity of producing 10-15 tons of CBG each day using agricultural residues, cattle dung and wastewater, among other things, according to Mohit Dhawan.
India mandated that gas used for cooking and automobiles be mixed with 1% CBG since April.
Vikas Singh is a director at the federal oil ministry. He said that this would gradually be raised to 5% in 2028-2029.
He said that about 28 million cubic metres of gas are used daily to power automobiles and for cooking.
Singh added that India will have 480 CBG facilities by then, including 195 owned by state-owned oil and gas companies.
India imports LNG, which is expensive and difficult to transport. India wants to increase the use of gas to 15% in its energy mix by 2030, up from 6% currently. $1 = 86,5650 Indian Rupees (Reporting and editing by Harikrishnan Nair).
(source: Reuters)
