New Delhi: The Indian Biogas Association (IBA) anticipates receiving an investment of approximately Rs 1,600 crore in the sector during the Renewable Energy India Expo (REI) 2024, which commences on Thursday. IBA, the top organization in the country for biogas operators, manufacturers, and plant planners, is positive about the potential benefits of the upcoming prestigious event.
In a conversation with PTI, Gaurav Kedia, the Chairman of IBA, stated that approximately Rs 1,600 crore worth of investment announcements are anticipated in the biogas sector for REI 2024. He mentioned that the expected attendance for the REI Expo 2024 is 20 pc higher than last year. Kedia highlighted the immense unexplored opportunities in the biogas industry. He mentioned that even though it currently makes up less than one percent of the energy mix, the industry is set to see significant expansion and could have a key role in India's energy future by 2030. The organization believes the expo will create a strong push for the biogas sector. The Bio-Energy Pavilion 2024 receives backing from government ministries and key organizations like the Ministry of New and Renewable Energy, the National Institute of Bio-Energy, and the World Bioenergy Association.
The event will occur over three days at the India Expo Centre in Greater Noida, Uttar Pradesh, and is known as a top platform in India for renewable energy advancements. It will display advancements in different areas such as bio-energy, solar power, wind energy, electric vehicles, and energy storage solutions. The event seeks to support India's efforts in reaching its net-zero emissions goal. AR Shukla, President of Indian Biogas, looked back on the achievements of the previous year's Bioenergy Pavilion, highlighting the range of initiatives that were unveiled. "We expect to attract a lot of attention from investors at this year's event."
Shukla predicted that the expo would see more than 50,000 attendees, due to the increasing emphasis on the bio-energy industry and the ongoing backing from the government. Over time, the REI Expo has become a top platform for those involved in renewable energy to display innovative technologies, products, and solutions and to promote important industry connections. India has great potential for biogas growth, as it could produce approximately 62 million tonnes of compressed biogas per year, equal to substituting almost 7 pc of the nation's current fuel usage. The biogas industry is a crucial answer to decrease reliance on foreign fuels and tackle environmental issues.
FIRST Business Portal addressing the potential of business capability of North East Region.
