ONGC Board approves JV with EverEnviro to set up CBG Plants Pan India
City Air News
Mar 1, 2024 06:33
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Chandigarh, March 1, 2023: State-run Oil and Natural Gas Corporation (ONGC) will form a joint venture with EverEnviro Resource Management Pvt. Ltd., India's leading compressed biogas / RNG developer to set up compressed biogas plants (CBG) across the country. The board of ONGC at its meeting held recently considered and accorded in principle, an approval for formation of joint venture companies with EverEnviro and another entity to set up 15 CBG plants. The board also accorded, in principle, approval for formation of 50:50 Joint Ventures separately with both the entities either by ONGC or through its subsidiary (ies) associates.
EverEnviro's aims to establish over 100 CBG plants across India based on diverse feedstock, including municipal solid waste (MSW), agro waste, and agro-industrial waste. The organisation is already executing 20+ CBG projects across Madhya Pradesh, Uttar Pradesh, Delhi, and Punjab with a significant capital investment of nearly Rs 2,000 Crores which will result into a robust output of 320 metric tons per day of CBG.
Deepak Agarwal, Executive Director, EverEnviro Resource Management Pvt. Ltd. said, “We are honoured to partner with ONGC, one of the Navratnas of Government of India for bolstering domestic renewable energy production. Our vision is to attain a daily CBG output of 1000 metric tons on a pan India scale within the next five years. This partnership reflects our joint commitment towards achieving India’s energy transition goals by 2023 and promote our country’s environmental stewardship with reduced carbon emissions.”
EverEnviro has built India’s largest biogas plant which turns city waste into clean energy in Indore, which was inaugurated by Prime Minister Narendra Modi in February 2022. Further, the company has associated with Indraprastha Gas Ltd and with Indian Oil Corporation Ltd to set up multiple CBG plants across the country.
