Latest news with #HPCLRenewableandGreenEnergyLtd

Business Standard

HPCL to invest $231 million to build 24 compressed biogas plants in India

Indian state fuel retailer Hindustan Petroleum Corp Ltd (HPCL) aims to invest about Rs 20 billion ($231.04 million) in the next two to three years to set up 24 compressed biogas (CBG) plants, a company official said on Friday. India, among the world's largest greenhouse gas emitters, is exploring the use of organic waste to produce cleaner fuels as part of its efforts to reduce carbon emissions and achieve its 2070 net-zero target. HPCL Renewable and Green Energy Ltd, an HPCL subsidiary that is executing the project, has already set up two plants and would set up 24 more plants with a daily capacity to produce 10-15 tons each of CBG using agriculture residue, cattle dung and sewage water, among others, said Mohit Dhawan, chief executive of the subsidiary company. Since April, India has mandated mixing gas used to run automobiles and cooking gas with 1 per cent of CBG. This would be gradually raised to 5 per cent by 2028-2029, said Vikas Singh, a director in the federal oil ministry. He said about 28 million cubic meters a day (MMSCMD) of gas is daily used to run automobiles and in cooking. "We expect this to rise to 44 MMSCMD by 2028-29" Singh said, adding by that time India would have 480 CBG plants, including 195 by state oil and gas companies. India at present meets nearly half of its gas needs through imports of costly liquefied natural gas (LNG). India wants to raise use of gas in its energy mix to 15 per cent by 2030 from the current 6 per cent. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)