ONGC Partners with EverEnviro for Domestic Biogas Production Push

ENA Sectors 2024-05-31 17:17:55 New Delhi, May 31 (KNN) In a major boost to India's renewable energy ambitions, state-run oil and gas giant ONGC has entered into a joint venture with EverEnviro Resource Management Pvt. Ltd. to establish 10 compressed biogas (CBG) plants across the country. The two firms formalised their equal partnership by inking a Memorandum of Understanding (MoU) on Wednesday. This marks the first phase of an ambitious initiative aimed at ramping up domestic bio-fuel production to reduce dependence on imported gas. Utilizing agricultural residue, agro-industrial waste, energy crops and municipal solid waste as feedstock, the planned CBG facilities are expected to offset around 7.5 lakh tons of carbon dioxide equivalent emissions annually. Alternative fuels like biogas are crucial for meeting India's energy needs in an environmentally sustainable manner through effective waste management and circular economy principles, said ONGC Executive Director Satyan Kumar. He highlighted ONGC's net zero targets, stating the partnership will significantly contribute to mitigating carbon emissions as the firm eyes becoming carbon neutral by 2038. For EverEnviro, which aims to set up over 100 CBG plants in India leveraging diverse feedstocks, the ONGC joint venture marks a major milestone. The company is already executing over 20 similar projects across states like Madhya Pradesh, Uttar Pradesh and Punjab with an investment of nearly Rs 2,000 crore. Our collaboration with ONGC will give a fillip to key government initiatives like GOBARdhan, Waste to Wealth, Make in India and Atmanirbhar Bharat while advancing the domestic renewable energy agenda, said EverEnviro's Executive Director Deepak Agarwal. He added that the organic manure byproduct from the CBG units will promote regenerative agriculture by replenishing soil health and fertility. The ONGC-EverEnviro partnership aligns with India's commitments under the Global Biofuels Alliance and its target of achieving net zero emissions by 2070. It demonstrates a concerted push by both private and public sectors towards an energy transition leveraging bio-fuels and effective waste management. (KNN Bureau) 38027 https://knnindia.co.in/news/newsdetails/sectors/ongc-partners-with-everenviro-for-domestic-biogas-production-push 2024-05-31 17:17:55 knnindia.co.in ONGC Partners with EverEnviro for Domestic Biogas Production Push