PEDA Joins Hands with GAIL to Establish 10 Compressed Biogas Projects in Punjab
The agreement aims to establish ten compressed biogas (CBG) projects across the state, in addition to several other renewable energy initiatives.
In a significant development that promises to boost Punjab's green energy sector, the Punjab Energy Development Agency (PEDA) has signed a Memorandum of Understanding (MoU) with GAIL (India) Limited.
The agreement aims to establish ten compressed biogas (CBG) projects across the state, in addition to several other renewable energy initiatives.
The Chief Executive Officer of PEDA, Dr. Amarpal Singh, and the Executive Director of HPCL, Mr. RK Singhal were the signatories of this historic pact. With a substantial investment amounting to Rs. 600 crore, the projects are poised to reshape Punjab's renewable energy landscape.
Read Also : Air Chief Marshal VR Chaudhari, CAS presented Presidential Awards to 51 IAF personnelThese projects are expected to yield over 35,000 tonnes of compressed biogas and approximately 8,700 tonnes of organic manure yearly. Beyond the production of biogas and manure, the projects are anticipated to generate an annual revenue of around Rs. 300 crore, further bolstering Punjab's economy.
Read Also : BEL participates in India-Mozambique Defence industry interaction eventJobs creation is another significant impact of these projects, with a projected direct employment opportunity for over 600 local residents. Furthermore, the involvement of rural entrepreneurs in the supply chain, specifically for sourcing the requisite paddy straw, presents an opportunity to create additional employment for more than 500 individuals.
Read Also : CERC delegation visits Pakri Barwadih MinesNews Must Read
- NCL General Manager (Finance) D Sunil Kumar recommended for SECL Director (Finance)
- Bank of Maharashtra Q4 results, Net Profit increased by 44.95 percent to Rs 1,218 crore
- Axis Bank Overtakes Kotak Mahindra Bank to Become India's Fourth Most Valued Lender
- LIC cuts stakes in major PSU stocks
- SJVN CMD Geeta Kapur Inaugurates Construction Works at Sunni Dam Project in Himachal Pradesh
- PESB Selects R Veerabahu as Director (Finance) for Braithwaite & Co. Limited
- Grew Energy bags largest order of 200 MW Contract of SECI's Auction
- CPCL Reports 39% YoY Drop in Q4 Net Profit, Declares Rs 55 per Share Dividend
- SJVN Limited inaugurates India's first Multi-purpose Green Hydrogen Pilot Project
- KRDCL, RVNL JV emerges as the Lowest Bidder for Redevelopment of Thiruvananthapuram Central Railway Station