A Memorandum of Understanding (MoU) was inked by the Punjab Energy Development Agency (PEDA) and Hindustan Petroleum Corporation Limited (HPCL) to establish ten compressed biogas (CBG) projects as well as other innovative and renewable energy projects around the state.

In the presence of Ravi Bhagat, Secretary, New and Renewable Energy Sources, Punjab, PEDA Chief Executive Officer Amarpal Singh and HPCL Executive Director (Bio-fuels and Renewables), Shuvendu Gupta, signed the Memorandum of Understanding.

According to Gupta, HPCL will initially invest roughly Rs 600 crore to establish 10 CBG projects.

It will also explore possibilities to establish other new and renewable energy projects in the state, he said.

These 10 CBG plants are expected to produce over 35,000 tonnes of biogas and about 8,700 tonnes of organic manure annually, besides generating revenue of about Rs 300 crore annually from the CBG production.