RIL to Invest Rs 65K Cr in AP Biogas Plants

12 Nov 2024 , 11:23 AM

Over the next five years, 500 compressed biogas plants (CBG) would be established in Andhra Pradesh thanks to an investment of Rs 65,000 crore by Reliance Industries Ltd (RIL). Under its renewable energy effort, this will be the company’s largest investment outside of Gujarat.

According to news reports, the plants, each requiring an expenditure of Rs 130 crore, will be established on state wasteland.

According to the state administration, they are anticipated to create 250,000 direct and indirect jobs.

Anant Ambani, the leader of RIL’s sustainable energy effort, and Nara Lokesh, the IT minister of Andhra Pradesh and the head of the state cabinet’s sub-committee on job creation, finalised the proposal in Mumbai.

In the presence of Chief Minister N Chandrababu Naidu, RIL and the Andhra Pradesh Industries Department will sign a memorandum of understanding (MoU) in Vijayawada on Tuesday.

Under the state’s recently announced integrated clean energy policy, the Andhra government has provided incentives for biofuel projects.

These include a five-year, 20% capital subsidy for fixed capital investments in CBG facilities, as well as a five-year, complete refund of the state’s goods and services tax (SGST) and energy charge. Lokesh gave ET his confirmation of the investment strategy.

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