JBM Renewables, a firm of JBM Group, on Monday said it’s inked a Memorandum of Understanding (MoU) with the Ministry of Petroleum and gas (MoPNG) for fixing 500 compressed biogas (CBG) projects across India. The MoU was signed within the presence of Petroleum Minister Dharmendra Pradhan, the corporate said during a statement.
Speaking at the event, Pradhan said, “The country is probably going to ascertain investments worth Rs 2 trillion to line up 5,000 compressed biogas (CBG) units across the country. As a part of the MoU, JBM Renewables will endeavour to determine and operate 500 CBG production projects pan India with a transparent horizon.”
JBM Renewables has been shortlisted and is among the four companies that are identified by the govt for the biogas programme. it’ll work jointly with MoPNG on the SATAT (Sustainable Alternative Towards Affordable Transportation) programme.
The ministry will offer its guidance, support, and facilitation in conceptualizing, establishing and functioning of the plants, Pradhan said after signing the MoUs for fixing 900 CBG plants as a part of SATAT initiative.
The scheme envisages fixing 5,000 CBG plants by FY24 and therefore the benefits from it’ll attend farmers, rural areas and tribals.
The programme has been anesthetize priority sector lending by the govt which can provide it the proper impetus and momentum.
JBM Renewables will get into multiple strategic partnerships to cater to the precise requirements of various regions where these projects shall be commissioned.
JBM Group aims to make the whole value chain strength-by-strength to return up with efficient and effective facilities, working towards environment conservation, the statement said.
The Group features a diversified portfolio with presence in multiple domains like automotive, engineering and style services, renewable energy, railways and original equipment manufacturing.
It currently has an infrastructure of 40 manufacturing plants and 4 engineering and style centres across 18 locations globally.