Petronet LNG Invests ₹1,200 Crore in CBG Plants with Gruner Renewable Energy
Petronet LNG Ltd is expanding its energy business beyond liquefied natural gas (LNG) by investing in Compressed Bio-Gas (CBG) plants. The company will invest ₹1,200 crore to establish 10 CBG facilities through a 50:50 joint venture with Gruner Renewable Energy.
The proposed investment marks Petronet LNG's entry into the renewable and alternative-energy space as companies increasingly explore cleaner fuel opportunities. Under the joint venture, Petronet LNG and Gruner Renewable Energy will have equal ownership in the venture.
The planned facilities will give the joint venture an aggregate CBG production capacity of 180 MT per day. Each facility is expected to have a production capacity of 18 metric tonnes per day (MT/day). The estimated investment for setting up the 10 CBG plants is ₹1,200 crore.