Gruner Renewable Energy secures $60M to expand CBG projects in India

Gruner Renewable Energy, a biogas solution in India, has announced that it has secured $ 60 million in funding.

This investment will enable the company’s expansion plans in the green energy domain, focusing on establishing new Compressed Bio-Gas (CBG) plants across the country.

The company plans to utilize this funding to enhance its operations and market presence.  It will accelerate Gruner’s research and development (R&D) initiatives, aiming to enhance biogas production efficiency and explore new avenues such as sustainable aviation fuel (SAF) and green hydrogen. The company also plans to expand its CNG retail outlets and increase its market presence over the next five years.

The company is committed to enhancing its research and development (R&D) efforts as it aims to make substantial contributions toward Prime Minister Narendra Modi’s vision of energy independence and sustainability for India.

Utkarsh Gupta, Founder & CEO, Gruner Renewable Energy said, “Establishing CBG plants in India is crucial for fostering a self-reliant and sustainable future. By promoting clean energy production and reducing dependence on imported compressed natural gas (CNG), we contribute significantly to India’s vision of energy independence. The Union Budget 2023-24 announcement to establish 500 new waste-to-wealth plants under the GOBARdhan initiative has been a major boost for the sector. With 113 functional CBG plants, 667 in development, and 171 under construction, the growth is substantial. These policy enablers promote a circular economy and sustainable development. This investment in Gruner from like-minded partners will be essential for driving this transformation”.

Utkarsh said, “As the Modi 3.0 government has taken charge, the biofuels industry anticipates policy reforms that will facilitate the expansion of new CBG projects nationwide. Biofuels will be essential in helping the country achieve its net zero ambitions. Government subsidies, tax credits, and substantial funding for R&D will be crucial in leveraging the opportunities inherent in CBG projects. This vision aligns with the goal of ‘Viksit Bharat’ (Developed India), where sustainable and self-reliant energy solutions drive economic growth and environmental stewardship”.

According to Utkarsh, encouraging the cultivation of energy crops through direct subsidies and financial incentives for farmers is essential. This approach not only supports the agricultural sector but also ensures a steady supply of feedstock for biogas production. By providing these incentives, the government can promote sustainable farming practices and contribute to the growth of the renewable energy sector. This strategy will help build a self-reliant and sustainable future for India.

A reflection of its commitment towards a cleaner and greener future for India, Gruner Renewable Energy is also establishing Asia’s largest CBG plant in Navsari, Gujarat.