Green Gas Gold Rush: $95M Powers India's CBG Expansion

India’s clean energy sector has received a significant boost as IOC GPS Renewables (IGRPL) secured USD 95 million in debt financing from an Indian bank—the largest single-bank debt deal in the country’s compressed biogas (CBG) sector.

The funds will support the development of nine CBG plants across Haryana, Uttar Pradesh, Chhattisgarh, and Andhra Pradesh, with a combined daily output capacity of 135 tonnes of biogas. These plants will utilize paddy straw as feedstock, tackling the issue of stubble burning while producing renewable natural gas—a key step in advancing India’s green energy goals.

The project is expected to be completed by FY27, with additional expansion plans underway. Notably, the financing was structured as a non-recourse loan, signaling strong investor confidence in India’s circular economy and renewable energy landscape.

News by Rahul Yelligetti.