In a notable development, Oil and Natural Gas Corporation Limited (ONGC) and EverEnviro Resource Management Private Limited have signed memorandum of understanding (MoU) to establish 10 compressed biogas (CBG) plants across the country.
Earlier in February 2024, ONGC board accorded approval for the formation of 50:50 JV with EverEnviro with seed equity contribution capped at Rs 100 million.
The collaboration aligns with the Union government’s initiative of achieving net zero carbon emissions by 2070 and Global Biofuels Alliance.
The plants would utilise agricultural waste, agro-industrial waste, energy crops and municipal solid waste as feedstock for the production of CBG.