GAIL India Ltd and TruAlt Bioenergy have entered into a $72-million compressed biogas (CBG) joint venture to set up 10 plants with targeted production of over 33 million kg of CBG using organic waste as raw material.
GAIL will hold 49 per cent stake and TruAlt Bioenergy 51 per cent in the joint venture, named Leafinti Bioenergy Limited. The investment, a mix of debt and equity, is contingent on due diligence and regulatory approvals.
Each plant will process 10,000 kg of organic waste per day and produce 100,000 kg of CBG. The initiative is expected to generate over 600 jobs, while also producing solid fermented organic manure (SFOM) and liquid fermented organic manure (LFOM).
The company reported that the collaboration aligns with India’s focus on cleaner and greener fuel, supporting the country’s vision of Atmanirbhar Bharat. TruAlt Bioenergy, which is part of India’s ethanol-blended petrol (EBP) programme, aims to create a CBG ecosystem for a smooth transition to economical and ecological energy sources, the company said. The venture is also anticipated to contribute to sustainable agriculture practices.
However, the shares were down by 0.37 per cent to Rs 163.25 at 11.56 am on the BSE.