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Central Government/Public Sector | Multi State - India | PID: 203540
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Indian Oil Corporation (IOCL) has entered into a 50:50 joint venture (JV) agreement with EverEnviro Resource Management as a step towards advancing biofuel adoption across the country.
The JV will focus on integrating advanced biogas technologies to convert organic waste into compressed biogas (CBG), a renewable energy source. By leveraging their combined expertise, IndianOil and EverEnviro will accelerate the deployment of CBG plants nationwide. This would help reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels.
These initiatives complement IOCL’s long-term low-carbon development strategy and achievement of operational net-zero goal by 2046, which will also help in achieving the net-zero target for India by the year 2070.
For the country, CBG promotes energy security by reducing dependence on imported fossil fuels and supports rural economy by creating local employment opportunities.
| Updated on: 21 - Oct - 2024
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