The Indian Biogas Association (IBA) achieved a significant milestone in the Indian renewable energy sector by securing investments totaling Rs 2,755 crore during the 2023 Renewable Energy India Expo. This national association includes industry operators, manufacturers, and bioenergy planners, and it experienced a substantial influx of investments and strategic partnerships during the event.
During the Expo held from October 4 to 6, Gaurav Kedia, Chairman of IBA, announced that the association had entered into agreements, including Joint Ventures (JVs), memoranda of understanding (MoUs), and received Letters of Intent (LoIs). Notably, these collaborations weren’t limited to Indian firms but also involved international players from countries like Germany, Sweden, and Italy, highlighting the global interest in India’s bioenergy sector. REI Expo 2023 presents a Rs 1,500 crore opportunity with a 25% expected increase in participation compared to the previous year. Major Indian conglomerates, including Reliance Industries and Adani Solar, participated with the support of the Ministry of New and Renewable Energy and the National Institute of Bio Energy.
AR Shukla, IBA President, highlighted the positive impact of the Global Biofuel Alliance announcement by the G20. As mentioned by him during the G20 summit on September 9, 2023, Prime Minister Narendra Modi is set to announce the objectives of the Global Biofuel Alliance.
REI Expo 2023 featured cutting-edge technologies that support India’s net-zero goals. Collaborations with the Indian Biogas Association are steps toward a greener, more sustainable energy future for India. Bioenergy has the potential to replace fossil fuels and bolster India’s leadership in the renewable energy sector.
Image source: https://w.ndtvimg.com/sites/3/2022/09/16112924/660-2-4.jpg
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