Gruner Renewable Energy bags orders worth Rs 1,500 cr for compressed biogas plants

New Delhi: Noida-based Gruner Renewable Energy on Tuesday said the company has recently bagged multiple projects worth Rs 1,500 crore for compressed biogas (CBG) plants across the country.

Gruner will develop CBG plants, valued at Rs 1,500 crore across India, which will collectively contribute to an annual production of over 88,000 tons of compressed biogas for the Indian market, a company statement said.

These projects are 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, it stated.

Gruner secured 11 projects from India's leading business conglomerates valued Rs 1,100 crore, and 19 other projects, worth Rs 400 crore from individual business leaders.

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 the next quarter.

These will be deployed at various locations including the corporate office in Noida, Delhi NCR.

"By leveraging our current orders in hand, we aim to reduce India's overall expenditure on crude oil imports by Rs 8 billion (Rs 800 crore)," Utkarsh Gupta, Founder & CEO, Gruner Renewable Energy said.

The company, which started its operations last year in February 2023, currently oversees a portfolio comprising 30 on-going projects, nationwide.

With a forward-looking approach, the company aims to augment its project count to 100, aiming new order value to Rs 5,000 crore by the end of the current financial year.