India’s biogas sector would see huge booster shots as Indian Biogas Association (IBA) expects significant new investments at Renewable Energy India Expo 2024. The biogas sector would attract Rs 1,600 crore of fresh investment to this event, which throws light on the enormous capacity of the sector to reduce India’s dependence on imported fuels and environmental issues.
The three-day running India expo is likely to attract the crowds to the India Expo Centre in Greater Noida, Uttar Pradesh, as one of the country’s leading renewable energy innovation platforms. It is placed across sectors like bioenergy, solar power, wind energy, electric vehicles, and energy storage solutions and is one of the major events for the advancements of renewable energy.
Growing interest in Biogas Sector
India promises to be a promising location for biogas development; 62 million tonnes of compressed biogas a year can be assumed, which would replace virtually 7 percent of the current level of fuel consumption in the country, a critical component in India’s renewable energy strategy.
As regards the REI Expo 2024, Gaurav Kedia, chairman of the Indian Biogas Association said, “It would attract substantial investment interest”. As per a latest report, the sector of biogas would see investment announcements of approximately around Rs 1,600 crore. “The REI Expo this time would see 20 percent more participation compared to last year,” he said. It is a reflection of a growth in optimism about biogas as a clean and sustainable source of energy.
Besides, Kedia also mentioned the enormous untapped potential of biogas in India. Today, although the sector contributes less than one percent to the energy mix, it is poised to grow exponentially in the near future. According to IBA, biogas can be a very significant component of India’s energy future in 2030 given the recent announcement of the government’s net-zero target.
Government Support and Industry Collaboration
Among the supporters of the Bio-Energy Pavilion at the REI Expo 2024 will be a number of government ministries and organisations like the Ministry of New and Renewable Energy, National Institute of Bioenergy and the World Bioenergy Association. That support stands witness to the growth in interest in bioenergy and biogas as a special case for India, within the overall process of complementing its diverse energy and reduction of carbon emission.
As a result, the government has actively been pursuing promotion of bioenergy in the broader renewable energy agenda through efforts to reduce dependence on imported fuels as it strives to reduce environmental ills such as air pollution and waste management. In this context, one of the greatest interventions in these problems that the biogas sector perceives as solutions is the conversion of organic wastes to clean energy.
REI Expo: Centre for Renewable Energy Innovation
The REI Expo has now emerged as a quality platform where the most relevant stakeholders of the renewable energy industry can come to present their best-in-class technologies, products, and solutions. With expected visitor attendance of over 50,000, this year’s event promises to generate great interest among investors, policymakers, and industry leaders.
Indian Biogas Association President AR Shukla observed of last year’s successful Bioenergy Pavilion that several initiatives had been announced during the event which would be very helpful in raising the profile for the sector. “We expect to get tremendous interest from investors during this year’s event,” Shukla said, referring to the still growing focus on bioenergy and governmental support for the sector.
Besides biogas, the major other hubs of growth in renewable energy sectors such as solar and wind power, electric vehicles, and energy storage solutions will be presented. These are crucial sectors for India in its larger efforts for renewable energy, and the REI Expo will enable these individuals to engage in meaningful discussion and cooperation that could define the future of energy sources in India.
Biogas: A Key Component of India’s Renewable Energy Future
India has the potential to produce an amount of compressed biogas worth 62 million tonnes every year, and the sector plays a significant role in India’s renewable energy future. Compressed biogas produced from organic waste, such as agricultural residue, livestock wastes, and municipal solid wastes, is a very essential, sustainable, and environmentally friendly alternative to traditional fossil fuels.
By using biogas, India can reduce its dependence on imported fuels, which is a major concern for the energy security of the country. In producing biogas, India addresses significant environmental issues by managing organic wastes and reducing greenhouse gas emissions. Investment in the biogas sector brings India closer to achieving the net-zero emissions goal that Prime Minister Narendra Modi had announced during the attendance of the COP26 climate summit in 2021.
It is expected that REI Expo 2024 would further intensify the momentum needed to take the biogas industry forward and the IBA feels convinced that all the impacts of this event can lead to investment and innovation in the sector. The expo allows industry leaders to share knowledge, show new technologies, and possibly develop partnerships that might increase the growth of biogas as a mainstream Indian energy option.
Conclusion
The biogas sector, of course, has enormous potential which remains untapped and stands at the threshold of significant expansion in India. The Indian Biogas Association at REI Expo 2024 sees investments which will reach Rs 1,600 crore, speaking volumes about the rising confidence in its capacity to serve India’s renewable energy goals. As the country works toward becoming a clean energy economy, biogas is poised to play a pivotal role toward reducing carbon emissions, improving energy security, and addressing environmental challenges.
The EXPO would also become a more critical platform in fostering interest and investment into biogas and further cement its place within the energy mix of India. A bright future awaits biogas in India, as the government is highly supporting it, and privatized participation increases.
Source: PTI, Octopus Energy