Union Minister Dharmendra Pradhan
Union Minister Dharmendra Pradhan

Rs 2 lakh crores envisaged for setting up 5000 Compressed bio-gas plants: Dharmendra Pradhan

ANI | Updated: Nov 20, 2020 23:44 IST


New Delhi [India], November 20 (ANI): Union Minister of Petroleum and Natural Gas and Steel Dharmendra Pradhan on Friday said that total of 5000 Compressed Bio-Gas (CBG) plants with an approximate investment of Rs 2 lakh crores will be set up by the financial year 2023-24.
"To boost the availability of affordable and clean transport fuels, a MoU was signed today 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," read a press statement from Ministry of Petroleum & Natural Gas.
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 the availability of technology for the projects, the press statement read.
Government of India, under the SATAT initiatives, envisages setting up of 5000 CBG plants by 2023-24 with the 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 an 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 the 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.
The Minister also thanked the Reserve Bank of India for including CBG in priority sector lending framework.
SATAT (Sustainable Alternative Towards Affordable Transportation) initiative for boosting production and availability of CBG as an alternative and affordable clean fuel for the transportation sector was launched by Government of India on 1.10.2018. The scheme envisages setting up of 5000 CBG plants by FY 2023-24. The signing of the MoUs will give a big fillip to the clean energy initiative of the Government.
Over the last two years, SATAT has grown into one of the flagship programs of MoPNG. SATAT will establish an ecosystem for the production of Compressed Bio Gas from various waste and biomass sources in the country leading to multiple benefits viz. reduction of natural gas import, reduction of GHG emission, reduction in burning of agriculture residues, remunerative income to farmers, employment generation, effective waste management etc. The initiative is in line with the goals of AatmaNirbhar Bharat, Swachh Bharat Mission and boosting MSME sector.
MOU Signing ceremony marks MoPNG's commitment towards SATAT and the increased participation of the private sector would help the nation in achieving indigenous and sustainable production of clean fuel.
SATAT initiative is also an important step towards the fulfilment of India's COP-21 commitments for carbon emission reduction.
Pradhan, in his address, affirmed that completion of 5000 CBG plants will facilitate in lowering greenhouse gas emissions, remunerating farmers for agricultural residues and reducing natural gas imports, in line with the Aatmanirbhar Bharat and Swacch Bharat missions. (ANI)

Loading...
iocl
iocl