Wabag, Peak Sustainability Ventures to establish 100 bio-CNG plants worldwide
SUMMARY
These plants would be located in India, as well as other agreed-upon locations in the GCC (Gulf Cooperation Council) region, Africa, and Europe. [Image: Wabag]
By Shardul SharmaPOSTED IN:
Mumbai-listed VA Tech Wabag has signed a memorandum of understanding (MoU) with fund managers Peak Sustainability Ventures to establish 100 bio-compressed natural gas (CNG) plants across India, the GCC (Gulf Cooperation Council) region, Africa, and Europe, Wabag said on January 29.
The business potential for establishing 100 bio-CNG plants is estimated to exceed $200mn. The collaborative effort between Wabag and Peak Sustainability Ventures aims to generate over 73mn kg/year of bio-CNG, Wabag said.
The primary objective of this partnership is to leverage the untapped potential of sewage treatment plants to generate bio-CNG. The produced bio-CNG will find applications in the mobility sector, specifically for trucks and heavy-duty vehicles, as well as in industrial applications.
VA Tech Wabag, a private water operator, has already implemented approximately 40 large biogas generation facilities in various projects around the world. Peak Sustainability Ventures manages an alternative investment fund with investments spanning four verticals: new energy, food systems, water, and other climate-related sectors.
