30 Oct 2023 , 02:54 PM
Punjab Energy Development Agency (PEDA) partners with Hindustan Petroleum Corporation Limited (HPCL) to establish ten compressed biogas (CBG) projects and other new and renewable energy initiatives in the state.
HPCL plans to initially invest approximately Rs 600 crore in setting up the ten CBG projects and explore further opportunities in the renewable energy sector in the region.
The ten CBG facilities are expected to produce over 35,000 tons of biogas and approximately 8,700 tons of organic manure annually, generating an estimated annual revenue of Rs 300 crore from CBG production. Dr. Amarpal Singh, CEO of PEDA, highlights the positive impact of these projects, including the reduction of paddy straw burning on about 1.10 lakh acres of land, resulting in annual emissions reduction equivalent to planting 83,000 trees.
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