The Punjab Energy Development Agency (PEDA) signed a deal with Hindustan Petroleum Corporation Limited (HPCL) to establish ten compressed biogas (CBG) projects and various other projects related to new and renewable energy in the state.
Shuvendu Gupta, the executive director in charge of bio-fuels and renewables at HPCL, mentioned that the company will initially invest around ₹600 crore in setting up thee ten CBG projects. Additionally, they will explore the potential for implementing other new and renewable energy initiatives in the region. The ten CBG facilities are projected to produce more than 35,000 tons of biogas (CBG) and approximately 8,700 tons of organic manure annually. They are also expected to generate annual revenue of approximately ₹300 crore from CBG production.
As reported by Free Press Journal, Dr. Amarpal Singh, CEO of PEDA, emphasised that the implementation of the ten projects will lead to the prevention of the burning of at least 2.75 lakh tons of paddy straw on approximately 1.10 lakh acres of land. This will result in an annual reduction of approximately five lakh tons of CO2 emissions and other pollutants, which is equivalent to planting 83,000 trees every year.
