Noida-based Gruner Renewable Energy announced this week that it has bagged multiple projects worth INR 1,500 crore ($180 million) for compressed biogas (CBG) plants across the country. The company bagged these projects within the first year of its incorporation.
Gruner stated it secured eleven projects valued INR 1,100 crore from a leading business conglomerate in India and 19 other projects worth INR 400 crore from individual business leaders.
Gruner will develop these CBG plants across India. The plants will have a cumulative CBG production capacity of 88,000 tons per year. The projects will be strategically located across various cities, including Ayodhya (Uttar Pradesh), Satna (Madhya Pradesh), Balasore (Orissa), Navsari (Gujarat), Yavatmal (Maharashtra), Vijayawada and Rajahmundry (Andhra Pradesh), and others.
For smooth operations of these projects, Gruner will add around 900 professionals and skilled labour taking its workforce to a total of 2,500 employees including site workers by next quarter.
Utkarsh Gupta, founder and CEO, Gruner Renewable Energy, said, “Currently, India satisfies about 85% of its crude oil demands through imports. However, there is a gradual effort underway to expand biofuel production capacity within the country. By leveraging our current orders in hand, we aim to reduce India’s overall expenditure on crude oil imports by INR 8 billion. Furthermore, our efforts aim to benefit farmers and generate employment in the energy industry, fostering awareness and development. We aspire to play a pivotal role in India’s commitment to becoming a net-zero economy by 2070 through renewable energy.”
Gruner, which started its operations in February 2023, currently oversees a robust portfolio comprising 30 on-going projects nationwide. The company aims to augment its project count to 100, aiming new order value of INR 5,000 crore in the current FY 2024-25.