Va Tech Wabag Limited (WABAG) and Peak Sustainability Ventures (PEAK) have signed a memorandum of understanding (MoU) for establishing 100 bio- compressed natural gas (CNG) plants across India and other countries. It would entail an investment of over USD 200 million.
WABAG would assist as technology partner in undertaking the execution, commissioning and operation & maintenance of the plants while PEAK would offer insights in energy related domain and support in raising funds for large-scale project financing.
The plants would generate around 73 million kg per annum bio-CNG harnessing energy from sewage treatment plants which will be used for mobility application in trucks and heavy-duty vehicles, and for industrial applications, thereby reducing the need for fossil fuels.