The bio-CNG plants at sewage treatment facilities will be set up across India and other mutually agreed-upon locations in the GCC, Africa, and European countries
VA Tech Wabag Limited (WABAG), a leading pure-play water technology group, has entered into a MoU with Peak Sustainability Ventures (PEAK) to establish 100 Bio-CNG plants at sewage treatment facilities across India and other mutually agreed-upon locations in the GCC, Africa, and European countries.
The parties aim to harness the unutilized potential of Sewage treatment plants and to generate Bio-CNG which can be used for mobility application in trucks and heavy duty vehicles, and for industrial applications, thereby reducing the need for fossil fuels.
This initiative would not only meet the growing energy demand in a responsible and ecofriendly manner, but also contribute to India's commitment to GHG emission reduction and to reduction of air pollution from methane, which has much higher Global Warming Potential (GWP) than carbon dioxide.
WABAG is the 3rd largest private water operator globally with providing safe and clean drinking water and sanitation to over 88.8 million people across the globe. This strategical tieup will further boost WABAG's commitment towards a cleaner and greener world. WABAG has already implemented around 40 large biogas generation facilities in its various projects globally.
PEAK manages an Alternative Investment Fund (AIF) which invests across 4 verticals: new energy (renewables, energy storage, waste-to-energy, hydrogen etc.), food systems, water and other climate related sectors to address the mitigation and adaptation objectives of the SDG goals.
WABAG with its experience & know-how in implementing sustainable solutions will play the role of a technology partner and will be responsible for execution, commissioning and O&M of the Bio-CNG plants. PEAK would provide inputs in energy related areas and assist in raising capital for financing projects at scale.
The business potential for the establishment of 100 Bio-CNG plants is expected to be over USD 200 Million and this collaboration aims to generate over 73 Million Kgs of Bio-CNG per annum. This will be a significant boost to the local and agrarian economies and will also result in employment opportunities while simultaneously providing immense ecological benefits, further empowering the G20 initiative of the Global Biofuel Alliance and enhancing the energy security of the country. Bio-CNG production from sewage treatment plants exemplifies an innovative and environmentally conscious approach, transforming a once-discarded resource into a valuable and versatile energy asset. It stands as a testament to the potential of merging waste management practices with renewable energy solutions for a cleaner, more sustainable future.
Shailesh Kumar, CEO-India Cluster at WABAG said, WABAG has always been a frontrunner in terms of implementing sustainable solutions and in generating green energy. WABAG is already producing more than 40 MWh of green energy through its various installed plants. With this collaboration, we are taking a next step in our green energy segment to produce cleaner and greener fuel and to support country's vision of Atmanirbhar Bharat. This aligns perfectly with vision of implementing sustainable solutions for a better life.
Samir Shah, Managing Partner of Peak Sustainability Ventures said, we are excited to collaborate with WABAG in this initiative to establish a pathway for meeting India's energy goals in a sustainable manner using methane generated by STP's which would otherwise result in higher emissions and pollution. With our deep understanding of the energy space and our global network and relationships, we shall focus on bringing institutional capital to this pioneering initiative and work with WABAG to evaluate innovative technologies globally which can result in higher efficiency, improved process flow, hydrogen extraction and other ways to improve project outcomes. Through this collaboration we hope to contribute towards accelerating India's energy transition to a low carbon future.
Register Now to Attend Petrochem Summit 2024 on Friday, 23rd February 2024, The Park Hotel, New Delhi
Subscribe To Our Newsletter & Stay Updated