JBM Renewables, a firm of JBM Group, on Monday said it has inked a Memorandum of Understanding (MoU) with the Ministry of Petroleum and Natural Gas (MoPNG) for setting up 500 compressed biogas (CBG) projects across India. The MoU was signed in the presence of Petroleum Minister Dharmendra Pradhan, the company said in a statement.
Speaking at the event, Pradhan said, “The country is likely to see investments worth Rs 2 trillion to set up 5,000 compressed biogas (CBG) units across the country. As part of the MoU, JBM Renewables will endeavour to establish and operate 500 CBG production projects pan India with a clear horizon.”
JBM Renewables has been shortlisted and is among the four companies that have been identified by the government for the biogas programme. It will work jointly with MoPNG on the SATAT (Sustainable Alternative Towards Affordable Transportation) programme.