Whalesbook
The venture marks a significant step in the company's waste-to-energy strategy initiated in January 2024. The Bio-CNG plant will be situated at the 70 Million Liters per Day (MLD) Sewage Treatment Plant (STP) in Dundaheda, Ghaziabad. It will operate under a Build-Operate-Transfer (BOT) model, a public-private partnership that leverages private expertise for public infrastructure. Ghaziabad Bioenergy Private Limited, a newly formed special purpose vehicle (SPV) by VA Tech WABAG and PEAK Sustainability Ventures, will execute the project.
Biogas Conversion and Emission Reduction
This facility is designed to capture raw biogas generated from the sewage treatment process. This captured biogas will be purified and converted into renewable Bio-CNG fuel, suitable for mobility and industrial applications. The company estimates that this initiative will reduce carbon emissions by around 250,000 metric tons throughout the project's operational life. Commercial operations are anticipated to commence within the next twelve months.
Operational Responsibilities and Strategic Input
VA Tech WABAG will spearhead the project's execution and manage its operations and maintenance for a duration of 15 years. PEAK Sustainability Ventures will contribute strategic insights and technological guidance, alongside facilitating capital investment from climate-focused funds. This collaboration aims to accelerate India's energy transition, enhance energy security, and mitigate air pollution through financially viable climate solutions.
Investor Confidence
Rekha Jhunjhunwala, a prominent Indian investor, holds a substantial 8.02% stake in VA Tech WABAG, as per the latest shareholding patterns filed by the company. This backing signals investor confidence in the company's growth prospects within the renewable energy and waste management sectors.