GAIL and VERBIO India ink MoU to develop agricultural residue-based CBG projects – EQ
In Short : GAIL and VERBIO India have signed a Memorandum of Understanding (MoU) to collaborate on developing agricultural residue-based compressed biogas (CBG) projects. This partnership aims to convert agricultural waste into sustainable energy, promoting renewable sources and reducing environmental impact. By leveraging innovative technologies, the initiative seeks to enhance energy security while supporting rural economies and contributing to India’s climate goals.
In Detail : GAIL (India) Limited and VERBIO India Private Limited today signed a Memorandum of Understanding (MoU) to jointly explore the establishment of Agricultural Residue-based Compressed Biogas (CBG) plants in India. The MoU was signed in the presence of Sandeep Kumar Gupta, C&MD, GAIL, functional Directors of GAIL and Claus Sauter, Founder / CEO, VERBIO Group.
Sumit Kishore, Executive Director (Business Development and Exploration & Production), GAIL and Ashish Kumar, Managing Director, VERBIO signed the MoU.
This collaboration aims to leverage the strengths of both the companies to promote sustainable energy solutions and enhance utilization of agricultural waste.
Under the terms of the MoU, the parties intend to work together to identify suitable locations for setting up of greenfield Agri Residue-based CBG plants in a Joint Venture (JV) mode. The parties envisage to undertake feasibility studies of the identified projects. Based on the outcome of studies, the parties will secure investment approval from their respective management for investment in the project(s) and forming a JV company. Further, in line with the MoU, GAIL may explore the possibility of acquiring equity in the existing CBG plant of VERBIO in the State of Punjab.
Speaking on the occasion, Gupta said, “This MoU with VERBIO marks a significant step in our commitment to advancing clean energy in India. By harnessing agricultural residues for CBG production, we aim to contribute to the nation’s energy security and sustainability goals. This initiative will not only provide a renewable energy source but also support local farmers by utilizing agricultural waste, enhancing their income and livelihood.”
Sauter said, “We are pleased to partner with GAIL to jointly deploy bioenergy as one of the most innovative solutions for stubble burning in India. This collaboration aligns with our vision of promoting CBG while supporting the farmers and rural economy in India. With a strong partner as GAIL, VERBIO will be able to replicate the success of CBG proof of concept already implemented in Punjab, across India.
“Both GAIL and VERBIO are committed to fostering innovation in the biofuel sector, and this collaboration is a testament to that commitment. By leveraging agricultural residues, we will not only generate clean energy but also contribute to reducing GHG emissions and have a positive environmental impact.”
