Nexgen Energia to invest Rs 3,000 cr to set up CBG plant in Gujarat | Company News – Business Standard
The company presented a proposal for its investments in the state during a meeting with Gujarat Chief Minister Bhupendrabhai Patel
Sustainable energy solutions company Nexgen Energia on Wednesday said it will invest around Rs 3,000 crore to set up a compressed biogas (CBG) plant in Gujarat.
The company presented a proposal for its investments in the state during a meeting with Gujarat Chief Minister Bhupendrabhai Patel.
After the commencement of the CBG plant, it will start supplying compressed biogas directly to the CNG pumps, the company said.
“Nexgen Energia will invest more than Rs 3,000 crore and will set up a CNG Compressed Biogas (CBG) plant in Gujarat and apart from this, it will also set up EV units and other related setups in the state. A proposal for this has been presented to the Gujarat government, and soon, we will sign an MoU for this.
“Organic fertiliser that would be made in the process of making CNG from stubble and waste through the CBG plant, will be made available to the farmers from whom the stubble would be procured,” Nexgen Energia MD Piyush Dwivedi said.
An investment of Rs 3,000 crore has been agreed upon in the combined projects (CBG and EV), and with the commencement of the CBG plant, the company would start CNG supply directly to the pumps, he added.
Nexgen Energia has already set up CBG plants in Punjab, Uttar Pradesh, and Haryana. During the Investors Summit in Uttar Pradesh, the company also proposed large-scale investments in the state, he added.
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First Published: Mar 06 2024 | 10:59 PM IST