JBM Renewables signs MoU with Ministry of Petroleum and
New Delhi, 23 Nov 2020: JBM Renewables has signed an MoU with the Ministry of Petroleum and Natural Gas (MoPNG), Govt. of India for the development of Compressed Biogas (CBG) Projects. The MoU was signed in the presence of Hon’ble Petroleum Minister Shri. Dharmendra Pradhan, Hon’ble Principal Secretary, MoPNG, Shri Tarun Kapoor and other key officials. The Minister said that the country is likely to see investments worth Rs 2 trillion to set up 5,000 compressed biogas (CBG) units across the country. As part of the MoU, JBM Renewables will endeavor to establish and operate 500 CBG production projects pan India with a clear horizon. JBM Renewables has been shortlisted and is among the 4 companies that have been identified by the Indian Government for the Biogas programme of such a large scale and will work jointly with the MoPNG on the SATAT programme. MoPNG will offer its guidance, support, and facilitation in conceptualizing, establishing, and functioning of these projects. The minister was addressing an event after signing the memorandum of understanding for setting up 900 CBG plants as part of the SATAT (Sustainable Alternative Towards Affordable Transportation) initiative by the government. This programme has been put under the priority sector lending by the government which will provide it the right impetus and momentum. JBM Renewables, committed to fulfill the Hon’ble Prime Minister’s vision towards making an Aatmnirbhar Bharat, strives to incorporate latest technologies for executing these projects on a pan India basis. The company will get into multiple strategic partnerships to cater to the specific requirements of the different regions where these projects shall be commissioned. JBM’s aim is to create the entire value chain strength by strength to come up with efficient and effective facilities, working towards environment conservation. The company will be putting in place a robust and competent team with world class capabilities in this domain. The Reserve Bank of India (RBI) has included CBG in the priority sector lending framework. SATAT, an initiative to boost production and availability of CBG as an alternative and affordable clean fuel for transportation, was launched in October 2018. The scheme envisages setting up 5,000 CBG plants by FY24. The benefit from the SATAT will go to the farmers, rural areas, and tribals. With the inclusion of forest waste, agri-waste, animal husbandry waste, and marine waste, SATAT involves a multi-pronged approach. With the liberalized policy regime ensuring ease of doing business for entrepreneurs, off-take guarantee, financing, and technology support, SATAT is all set to contribute to doubling farmer’s income, generating employment for the youth, and ensuring clean energy for sustainable development.
About JBM Renewables
JBM Renewables is part of the multi-billion-dollar JBM Group. JBM Group has a diversified portfolio in the field of automotive, buses & electric vehicles, EV charging Infra, engineering & design services and renewables, with an infrastructure of 60 manufacturing plants and 5 engineering & design centers in over 10 countries. JBM’s focus on quality-delivery, frugal engineering, low time-to-market and art-to-part philosophy has provided the group an indomitable position in the automotive industry. For further info, please visit www.jbmgroup.com.