Indian Biogas Association Projects Rs 1,600 Crore Investment at REI 2024
The Indian Biogas Association (IBA) expects approximately Rs 1,600 crore investment during the Renewable Energy India Expo (REI) 2024. The event is set to attract significant participation and showcase advancements in renewable energy. The biogas sector is poised for growth, potentially contributing significantly to India's energy future by 2030.
- Country:
- India
The Indian Biogas Association (IBA) foresees a substantial Rs 1,600 crore investment in the sector during the Renewable Energy India Expo (REI) 2024, kicking off on Thursday.
IBA, a central body representing biogas operators, manufacturers, and plant planners, is enthusiastic about the high-profile event's potential.
IBA Chairman Gaurav Kedia told PTI, 'REI 2024 is expected to see investment announcements of around Rs 1,600 crore in the biogas sector.'
Kedia indicated that participation this year might increase by 20% compared to the previous year. He underscored the immense untapped potential of the biogas sector, which currently contributes less than 1% to the energy mix but is poised for significant growth and could be integral to India's energy future by 2030.
The association believes the expo will greatly benefit the biogas industry. The Bio-Energy Pavilion 2024 garners support from government ministries and key organizations like the Ministry of New and Renewable Energy, the National Institute of Bio-Energy, and the World Bioenergy Association.
The three-day event at the India Expo Centre in Greater Noida, Uttar Pradesh, stands as a premier platform for renewable energy innovations in India.
The exposition will highlight advancements in bio-energy, solar power, wind energy, electric vehicles, and energy storage solutions, aiming to aid India's net-zero emissions goal.
IBA President AR Shukla commented on the success of last year's Bioenergy Pavilion, celebrating the various initiatives launched.
'We expect to generate significant investor interest during this year's expo.' Shukla anticipates over 50,000 attendees, driven by growing bio-energy focus and ongoing government support.
The REI Expo has become a crucial platform for renewable energy stakeholders to exhibit cutting-edge technologies and engage in significant industry dialogue. India's biogas sector has great promise, with the potential to produce around 62 million tonnes of compressed biogas annually, enough to replace nearly 7% of the country's current fuel consumption. This presents a critical opportunity to reduce reliance on imported fuels and tackle environmental issues.
(With inputs from agencies.)