Published On:April 25 2024
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Gruner Renewable Energy Secures ₹1,500 Crore Contracts for CBG Plants

Gruner Renewable Energy Secures ₹1,500 Crore Contracts for CBG Plants

Gruner Renewable Energy has secured multiple projects worth ₹1,500 crore for Compressed Biogas (CBG) plants across India in its first year of incorporation. The company announced that it has signed 11 projects valued at ₹1,100 crore from one of India’s leading business conglomerates, alongside 19 additional projects worth ₹400 crore from various individual business leaders.

These CBG plants will have a combined annual production capacity of over 88,000 tonnes of compressed biogas, which will be distributed across the Indian market. The projects are located in several key cities, including Ayodhya in Uttar Pradesh, Satna in Madhya Pradesh, Balasore in Orissa, Navsari in Gujarat, Yavatmal in Maharashtra, Vijayawada, and Rajahmundry in Andhra Pradesh.

Gruner Renewable Energy's initiative underscores the company's commitment to innovation and growth within the renewable energy sector while contributing to India's sustainable development goals. To ensure smooth operations, the company will employ around 900 new professionals and skilled labor, bringing its workforce to 2,500 employees by the next quarter. These employees will be stationed at various locations, including the corporate office in Noida, NCR.

Utkarsh Gupta, CEO of Gruner Renewable Energy, said the company's projects aim to reduce India's expenditure on crude oil imports by ₹8 billion while benefiting farmers and generating employment in the energy industry. He added that Gruner seeks to play a significant role in India's goal to become a net-zero economy by 2070 through renewable energy.

Since beginning operations in February 2023, Gruner Renewable Energy has overseen a portfolio of 30 ongoing projects nationwide. The company aims to expand its project count to 100 and reach a new order value of ₹5,000 crore by the end of the current financial year.

HBL





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