NEW DELHI: Indraprastha Gas Limited (IGL) signed a Memorandum of Understanding (MOU) on Wednesday with two technology partners to establish 19 Compressed Biogas (CBG) plants in Delhi, Haryana, Rajasthan, and Uttar Pradesh. With this partnership, the company aims to produce 0.45 MMSCMD (Million Metric Standard Cubic Meters per Day) of biogas from waste, equal to 5% of IGL's daily requirements. The biogas produced from these 19 plants shall be fed into IGL’s City Gas Distribution network. Additionally, IGL has already empaneled two other partners for the same purpose.
Meanwhile, IGL reported a profit of Rs. 392 crore in the October quarter of the current financial year, down from Rs. 534.8 crore in the previous quarter.
In another development at India Energy Week, held in Goa, ONGC and NTPC Green Energy Limited (NGEL) signed a Joint Venture Agreement (JVA) to develop renewable energy projects focusing on offshore wind. This was signed on 7 February 2024 during India Energy Week. The JVA was signed in the presence of the Hon’ble Minister of Petroleum and Natural Gas and Minister of Housing and Urban Affairs, Hardeep Singh Puri.
The Joint Venture agreement was signed between NGEL CEO Mohit Bhargava and ONGC Executive Director Satish Kumar Dwivedi. The signing took place in the presence of ONGC Chairman and CEO Arun Kumar Singh, and NTPC Limited Chairman and Managing Director Gurdeep Singh in the presence of Minister Puri. The JVA marks a pivotal collaboration aimed at spearheading Renewable Energy Projects both within India and on the international stage. Specifically, the agreement encompasses ventures in offshore wind projects while also delving into potential opportunities in Storage, E-mobility, Carbon Credits, Green Credits, Green Hydrogen business, and its derivatives such as Green Ammonia and Green Methanol.