GAIL, TrueAlt Bioenergy forms JV to set up 10 CBG plants

GAIL (India) Limited has signed term sheet with TrueAlt Bioenergy Limited for its participation in the latter’s joint venture (JV), Leafinti Bioenergy Limited for setting up 10 compressed biogas (CBG) plants. It would entail an investment of over USD 72 million.

Each plant will have the capacity to produce 10,000 kg per day CBG. Around 600 million kg of organic waste including agricultural residue, sugarcane press mud, spent wash and other decomposable waste would be processed annually for the production of over 33 million kg CBG along with around 20 million kg solid fermented organic manure and over 30 million kg liquid fermented organic manure annually.

GAIL and TrueAlt will have 49 per cent and 51 per cent share, respectively in the JV and the investment in plants would be funded by a combination of debt and equity.