Nextgen Energia to set up CBG plant in Gujarat; to invest ₹3,000 Crore

7 Mar 2024 , 10:55 AM

Nexgen Energia, a sustainable energy solutions firm, said on Wednesday that it will invest around ₹3,000 Crore to establish a compressed biogas (CBG) facility in Gujarat.

During a meeting with Gujarat Chief Minister Bhupendrabhai Patel, the business offered a proposal to invest in the state.

Following the inauguration of the CBG facility, Nexgen Energia intends to supply compressed biogas directly to CNG pumps, as announced by the company.

With an investment exceeding ₹3,000 Crore, the company plans to establish a CNG Compressed Biogas (CBG) plant in Gujarat. Additionally, they are looking to set up electric vehicle (EV) units and other associated infrastructure within the state. The proposal has been submitted to the Gujarat government, and the signing of MoU is imminent.

Piyush Dwivedi, the managing director of Nexgen, mentioned that the organic fertilizer produced during the CNG manufacturing process using stubble and waste through the CBG plant will be provided to the farmers from whom the stubble is sourced.

An investment totaling ₹3,000 Crore has been finalized for the joint ventures encompassing both CBG and EV projects. Once the CBG plant is operational, the company will initiate direct CNG supply to the pumps, according to the statement.

Nexgen Energia has already established CBG plants in Punjab, Uttar Pradesh, and Haryana. Additionally, at the Investors Summit in Uttar Pradesh, the company presented substantial investment proposals for the state.

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