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Private Sector | Not Classified - india | PID: 202436
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VA Tech WABAG Ltd (WABAG), a key player in water technology, has inked a strategic agreement with Peak Sustainability Ventures (PEAK) to construct 100 bio-CNG plants utilizing methane derived from sewage treatment facilities. The move aims to address environmental concerns associated with untreated sewage emissions while contributing to sustainable energy solutions
Following the Memorandum of Understanding (MoU) signing, WABAG's shares experienced a 5.22 percent surge. The collaborative effort between VA Tech WABAG and Sustainability Ventures targets the establishment of bio-CNG plants at sewage treatment facilities in India and select overseas locations, including the GCC, Africa, and Europe
The envisioned bio-CNG gas plants will harness the untapped potential of sewage treatment plants, converting methane into bio-CNG for various applications, such as fuel for trucks, heavy-duty vehicles, and industrial processes. This initiative aligns with the goal of reducing dependence on fossil fuels and promoting eco-friendly energy alternatives
The estimated business potential for setting up 100 bio-CNG plants exceeds $200 million, with the collaboration projecting an annual production of over 73 million kgs of bio-CNG. Beyond economic benefits, this endeavor is expected to stimulate local economies, generate employment opportunities, and contribute to ecological conservation
CEO-India Cluster at WABAG, emphasized the company's commitment to green energy, stating, “With this collaboration, we are taking the next step in our green energy segment to produce cleaner and greener fuel and to support the country’s vision of Atmanirbhar Bharat
Bio-CNG production from sewage treatment plants is hailed as an innovative and environmentally conscious approach, turning waste into a valuable energy asset. Samir Shah, Managing Partner of Peak Sustainability Ventures, highlighted the venture's focus on bringing institutional capital to support the initiative and explore innovative technologies to enhance project outcomes
WABAG will serve as the technology partner, overseeing the execution, commissioning, and operation and maintenance (O&M) of the bio-CNG plants. PEAK will contribute expertise in energy-related areas and assist in securing capital for large-scale project financing
With a proven track record of implementing around 40 large biogas generation facilities globally, WABAG is positioned to play a crucial role in advancing sustainable energy solutions. PEAK, managing an Alternative Investment Fund (AIF), brings its extensive experience across new energy, food systems, water, and other climate-related sectors to drive the success of the collaborative initiative
| Updated on: 02 - Feb - 2024
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