IGL Set to Build 19 Biogas Plants Across 4 States

IGL Set to Build 19 Biogas Plants Across 4 States
IGL Set to Build 19 Biogas Plants Across 4 States

by Tanushree Jaiswal Last Updated: Feb 08, 2024 - 02:32 pm 570 Views
Listen icon

Indraprastha Gas Limited (IGL), India's leading city gas operator is diversifying its energy portfolio by venturing into compressed biogas production. This move aims to promote cleaner energy sources and reduce dependency on imported fuels. Through Memorandums of Understanding (MoUs) with technology partners, IGL plans to establish 19 compressed biogas plants across Delhi, Haryana, Rajasthan and Uttar Pradesh.

Environmental Impact

IGL's partnership with technology firms signifies its commitment to convert biogas from municipal and agricultural waste. Produced biogas will be blended with conventional gas and utilized as Compressed Natural Gas (CNG) for automobiles and piped gas for cooking and industrial purposes. This initiative aligns with the government's mandate to blend 1% of Compressed BioGas (CBG) with natural gas from April 2025, gradually increasing to 5% by 2028-29.

Establishment of these biogas plants is poised to reduce greenhouse gas emissions and mitigate environmental pollution. By converting waste into energy, IGL not only addresses waste management challenges but also contributes to cleaner air and a sustainable future. The initiative promises a win-win situation for stakeholders, including municipal authorities, farmers, City Gas Distribution (CGD) entities and the public.

Government Support

Municipal authorities stand to benefit from efficient waste management practices while farmers gain a sustainable solution for agricultural waste disposal. CGD entities will access cost-effective gas sources, ultimately translating into cheaper gas for consumers. Public will enjoy a cleaner environment, fostering healthier communities and sustainable development.

Indian government's emphasis on promoting alternate energy sources complements IGL's endeavors. Financial assistance promised by Finance Minister Nirmala Sitharaman for biomass aggregation machinery highlights government's commitment to supporting the biogas industry's growth. This collaborative effort between the public and private sectors signals a promising future for India's energy landscape.

On 25 January, IGL disclosed its financial performance for the October to December quarter. The company recorded a profit of ₹392 crore during this period marking a decline from ₹534.8 crore in the preceding quarter. Despite a 2.8% increase in revenue compared to the previous quarter, the company faced a decrease in margin by 250 basis points, settling at 15.9%.

Final Words

IGL's initiative to establish biogas plants marks a step towards sustainable energy production and environmental conservation. By embracing cleaner energy sources, India strengthens its resilience against global energy fluctuations and reinforces its commitment to a greener future. The partnership between IGL and technology firms exemplifies the power of collaboration in driving positive change and shaping a more sustainable tomorrow.

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Tanushree is a seasoned professional with 6 years of experience in the Fintech and Edtech industry.

Disclaimer

Investment/Trading in securities Market is subject to market risk, past performance is not a guarantee of future performance. The risk of loss in trading and investment in Securities markets including Equites and Derivatives can be substantial.
Enjoy 0%* Brokerage with 5paisa
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Sensex, Nifty down 1% on Iran-Israel tensions; consolidation to continue

Title: Sensex, Nifty slip 1% over Iran-Israel conflict worries; consolidation to continue Sensex, Nifty slip 1% over Iran-Israel conflict worries; consolidation to continue

Senco Gold Share Price surges nearly 10% on strong Q4 performance, nearing 52-week high

Senco Gold's stock increased more than 4% on April 15 after the firm announced 28% revenue growth for FY24 and 39% year-on-year growth for the March 2024 quarter in its business update.

Polymatech Electronics: ₹1,500 Crore IPO for Semiconductor Expansion

Polymatech Electronics, prominent semiconductor chip manufacturer based in Chennai, is gearing up for significant financial move with plans to launch₹1,500 cr initial public offering (IPO) by end of year. This IPO, double size initially envisaged, signifies company’s ambitious expansion strategy in semiconductor industry.