PEDA Joins Hands with GAIL to Establish 10 Compressed Biogas Projects in Punjab

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 : Arun Kumar, Director, Petroleum Ministry Appointed as Government Nominee Director to EIL Board

These 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 : Cochin Shipyard Limited secured a Large order from a European Client

Jobs 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 : TCS To Set Up First-of-its-Kind Human-Centric AI Center of Excellence in France