IBA expects to attract Rs 1,600 cr investment for biogas sector at REI 2024

New Delhi, Sep 29 (PTI) Indian Biogas Association (IBA) is expecting around Rs 1,600 crore investment in the sector during Renewable Energy India Expo (REI) 2024, beginning on Thursday.

IBA, the country’s leading body representing biogas operators, manufacturers, and plant planners, is optimistic about the opportunities the high-profile event will bring.

Talking to PTI, IBA Chairman Gaurav Kedia said, “REI 2024 is expected to see investment announcements of around Rs 1,600 crore in the biogas sector”.

He stated that the REI Expo 2024 is expected to attract 20 per cent more participation compared to last year.

Kedia emphasised the vast untapped potential of the biogas sector.

He pointed out that, despite its current contribution to the energy mix being less than one per cent, the sector is poised for substantial growth and could play a pivotal role in India’s energy future by 2030.

The association is confident that the expo will generate significant momentum for the biogas industry.

The Bio-Energy Pavilion 2024 is also supported by government ministries and prominent organisations, including the Ministry of New and Renewable Energy, the National Institute of Bio-Energy, and the World Bioenergy Association.

The three-day event will take place at the India Expo Centre in Greater Noida, Uttar Pradesh, and is recognised as one of India’s leading platforms for renewable energy innovations.

It will showcase developments across various sectors like bio-energy, solar power, wind energy, electric vehicles, and energy storage solutions.

The event aims to bolster India’s journey towards achieving its net-zero emissions target.

Indian Biogas President AR Shukla reflected on the success of last year’s Bioenergy Pavilion, noting the various initiatives that were announced.

“We anticipate generating significant interest from investors during this year’s event.”

Shukla said the expo is expected to witness over 50,000 attendees, driven by the growing focus on the bio-energy sector and the government’s continued support.

Over the years, the REI Expo has established itself as a leading platform for stakeholders in the renewable energy space to showcase cutting-edge technologies, products, and solutions while fostering meaningful industry interactions.

India holds significant promise for biogas development, with its potential to generate around 62 million tonnes of compressed biogas annually, equivalent to replacing nearly 7 per cent of the country’s current fuel consumption.

The biogas sector, thus, presents a key solution for reducing dependency on imported fuels while addressing environmental concerns.