IOC GPS Renewables Secures Rs 836 Cr for Nine CBG Projects
IOC GPS Renewables has secured a significant debt financing of Rs 836 crore (approximately $95 million) from Indian Bank for nine Compressed Biogas (CBG) projects across India. This funding, the largest single-bank debt raise in the CBG sector in India, is set to accelerate the scaling of India's biogas infrastructure and drive wider adoption.
The funding was secured without any corporate collateral, reflecting the strong credibility of IOC and the potential of the CBG sector. The projects, expected to be completed and commissioned by 2026, are spread across four states: Haryana, Uttar Pradesh, Chhattisgarh, and Andhra Pradesh. Each of the nine plants will have a capacity to produce 15 tonnes of CBG per day, using paddy straw as the primary feedstock. The CEO of IGRPL, Devendra Singh Sehgal, stated that this funding will boost the scaling of India's biogas infrastructure, while Deepak Agarwal, MD of GPSR ARYA, highlighted the scale of the opportunity in the CBG sector and its potential for India's clean energy transition.
IOC GPS Renewables' Rs 836 crore funding for nine CBG projects is a significant step towards India's clean energy transition. With strong backing from Indian Bank and positive outlooks from industry leaders, these projects are set to enhance India's biogas infrastructure and contribute to a greener future.
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