Renewable Energy India Expo 2023 to Receive Massive Boost with Rs 1,500 Crore Investment, Announces India’s Biogas Industry: IBA
In a significant development to reshape India's renewable energy landscape, the Indian Biogas Association (IBA) has announced expectations of substantial investments totaling Rs 1,500 crore in the biogas segment during the upcoming Renewable Energy India Expo 2023 (REI). The expo, scheduled from October 4 to 6, 2023, at the India Expo Centre, Greater Noida, Uttar Pradesh, is one of the largest trade expositions focusing on renewable energy, including bio-energy, solar, and wind power, along with energy-efficient technologies like electric vehicles and battery storage.
The IBA, comprising operators, manufacturers, and planners of biogas plants, expressed confidence that the REI would bring about an opportunity worth Rs 1,500 crore, marking a 25% increase in participation from the previous year.
Major industry players, including Reliance Industries and Adani Solar, are expected to participate, signifying the growing interest of conglomerates in India's renewable energy sector.
Supported by the Ministry of New and Renewable Energy and the National Institute of Bio-Energy, the biogas pavilion at REI aims to accelerate India's commitment towards achieving net-zero emissions. A.R. Shukla, President of IBA, highlighted the success of the previous year's initiatives and anticipated a surge in investor interest during this year's exhibition.
The recent announcement of the Global Biofuel Alliance during the G20 meeting has generated international interest in India's burgeoning biogas sector. Shukla emphasized the contagious appeal of India's opportunities, expecting a substantial footfall of over 25,000 visitors. He underlined the government's robust support for the Bio-Energy sector as a driving force behind this renewed interest.
Gaurav Kedia, Chairman of IBA, stressed the pivotal role of REI in providing a platform for both national and international industry players to showcase their capabilities. He expressed optimism about replicating the success of solar energy in the country by focusing on the biogas sector. Although biogas currently constitutes less than one per cent of India's energy mix, industry experts anticipate a significant rise by 2030, given the sector's current momentum.
In recent years, the REI Expo has evolved into a prominent platform for manufacturers, traders, buyers, promoters, and planners within the renewable energy domain to showcase innovative technologies and products. This year's spotlight on the biogas sector indicates a strategic shift, aligning with India's commitment to sustainable energy solutions and a greener future.
The forthcoming Renewable Energy India Expo 2023 promises to showcase cutting-edge technologies and catalyze transformative change in India's energy landscape. With substantial investments on the horizon and unwavering government support, the biogas sector is set to play a pivotal role in India's journey towards a sustainable and eco-friendly future. As the world grapples with climate challenges, India's strides in renewable energy stand as a testament to its commitment to a greener, cleaner tomorrow.