Punjab Energy Development Agency (PEDA) on Friday signed a Memorandum of Understanding (MoU) with Hindustan Petroleum Corporation Limited (HPCL) for setting up 10 compressed biogas (CBG) projects and other New & Renewable Energy projects across the state.
The MoU was signed by Chief Executive Officer PEDA Dr. Amarpal Singh and Executive Director (Bio-fuels and Renewables) of HPCL Mr. Shuvendu Gupta here in the presence of Dr. Ravi Bhagat, Secretary New and Renewable Energy Sources, Punjab.
Mr. Shuvendu Gupta said that HPCL will initially set up 10 Compressed Biogas (CBG) projects with an investment of about Rs. 600 Crores. It will also explore the possibilities to establish other New and Renewable Energy Projects in the State.
These 10 CBG plants are expected to produce over 35000 ton of Biogas (CBG) and about 8700 ton of organic manure annually, besides generating revenue around Rs. 300 crore annually from the CBG production. The projects will also generate direct employment opportunities for more than 600 persons and about 1500 indirect employment.
CEO Dr. Amarpal Singh informed, that with implementation of these 10 projects, at least 2.75 lakh ton paddy straw will be prevented from being burnt at about 1.10 lac acres. The annual prevention of CO2 emissions and other pollutants will be about 5.00 lakh ton which is equivalent to planting 83000 trees annually.The projects will also create around 50 rural entrepreneurs for supply of paddy straw to these plants further creating employment for more than 500 persons to be employed by these rural entrepreneurs.
Inviting other CBG developers for investment in the state, Punjab New and Renewable Energy Sources Minister Mr. Aman Arora said that Chief Minister S. Bhagwant Singh Mann led Punjab Government’s business friendly and transparent policies has created the most conducive environment for industrial growth in the state.
He emphasized that Punjab is an agrarian state and has an immense potential for crop residue based CBG projects. Congratulating the HPCL team for the pact, Secretary New and Renewable Energy Sources Dr. Ravi Bhagat assured them of every possible help in developing these projects in the field of New and Renewable Energy Sources.