ARYA secures Rs 1 billion for biogas projects with IOCL, BPCL
OIL & GAS

ARYA secures Rs 1 billion for biogas projects with IOCL, BPCL

ARYA, the project development division of GPS Renewables, has secured Rs 1 billion in mezzanine financing from InCred Opportunities Fund and Spark Capital. This funding is part of a larger Rs 2 billion round ARYA is raising to advance its Compressed Biogas (CBG) projects in partnership with Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL).

As a wholly-owned subsidiary of GPS Renewables, ARYA concentrates on sustainable biofuels and industrial decarbonisation projects designed to contribute to India’s Net Zero goals. The funds will expedite the growth of climate-positive initiatives under the ARYA brand of GPS Renewables, utilizing the company's expertise in technology and engineering.

Mainak Chakraborty, CEO of GPS Renewables and Chairman of ARYA, remarked that the current funding round would enhance their efforts to accelerate joint ventures with Indian Oil Corporation and Bharat Petroleum. He noted that these projects hold significant potential in supporting India's shift toward sustainable green energy. Over the upcoming year, the company aims to expand its capacity and reinforce partnerships with key industry players.

Previously, GPS Renewables, a prominent player in biofuel technology, raised Rs 4.11 billion through debt financing from institutions such as Punjab National Bank, HDFC, and HSBC. The company also secured $20 million in equity from Neev Fund II, managed by SBICap Ventures, along with Hivos-Triodos Fund and Caspian Impact Investments.

GPS Renewables provides comprehensive solutions across the biofuel development, production, and distribution lifecycle, with a focus on Compressed Biogas (CBG), Renewable Natural Gas (RNG), and Sustainable Aviation Fuel (SAF). The company has established over 100 biogas plants, including Asia’s largest RNG facility in Indore, inaugurated by Prime Minister Narendra Modi.

Recently, GPS Renewables expanded its capabilities by acquiring Germany-based Proweps Envirotech GmbH, enhancing its expertise in converting municipal, industrial, and agricultural waste into biogas.

ARYA, the project development division of GPS Renewables, has secured Rs 1 billion in mezzanine financing from InCred Opportunities Fund and Spark Capital. This funding is part of a larger Rs 2 billion round ARYA is raising to advance its Compressed Biogas (CBG) projects in partnership with Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL). As a wholly-owned subsidiary of GPS Renewables, ARYA concentrates on sustainable biofuels and industrial decarbonisation projects designed to contribute to India’s Net Zero goals. The funds will expedite the growth of climate-positive initiatives under the ARYA brand of GPS Renewables, utilizing the company's expertise in technology and engineering. Mainak Chakraborty, CEO of GPS Renewables and Chairman of ARYA, remarked that the current funding round would enhance their efforts to accelerate joint ventures with Indian Oil Corporation and Bharat Petroleum. He noted that these projects hold significant potential in supporting India's shift toward sustainable green energy. Over the upcoming year, the company aims to expand its capacity and reinforce partnerships with key industry players. Previously, GPS Renewables, a prominent player in biofuel technology, raised Rs 4.11 billion through debt financing from institutions such as Punjab National Bank, HDFC, and HSBC. The company also secured $20 million in equity from Neev Fund II, managed by SBICap Ventures, along with Hivos-Triodos Fund and Caspian Impact Investments. GPS Renewables provides comprehensive solutions across the biofuel development, production, and distribution lifecycle, with a focus on Compressed Biogas (CBG), Renewable Natural Gas (RNG), and Sustainable Aviation Fuel (SAF). The company has established over 100 biogas plants, including Asia’s largest RNG facility in Indore, inaugurated by Prime Minister Narendra Modi. Recently, GPS Renewables expanded its capabilities by acquiring Germany-based Proweps Envirotech GmbH, enhancing its expertise in converting municipal, industrial, and agricultural waste into biogas.

Next Story
Infrastructure Urban

Allcargo Gati Strengthens Doddaballapura’s Industrial Growth

Doddaballapura, once renowned for its silk sarees, has evolved into a major industrial hub, housing an Apparel Park and diverse manufacturing units producing textiles, paints, and machinery. The region’s strategic location and robust infrastructure have attracted national and international companies, boosting Karnataka’s economy.For the past four years, Allcargo Gati has been a key logistics partner, ensuring efficient distribution of goods across India. With a structured supply chain strategy—65 per ent to the north, 15-20 per cent west, 10-15 per cent east, and 5 per cent south—the c..

Next Story
Infrastructure Transport

Kolkata Metro to Suspend Green Line Services on March 8-9

The Kolkata Metro Railway has announced a complete traffic block on the East West Metro Corridor (Green Line) on March 8 and 9 for testing the Communication-Based Train Control (CBTC) system. Services will also be partially disrupted on the evening of March 7 and the morning of March 10. The Green Line, India’s first underwater metro tunnel and home to the country’s deepest metro shaft, runs from Howrah Maidan to Salt Lake Sector V. This line’s first phase was inaugurated in 2020 by then Railway Minister Piyush Goyal. Additionally, the Kolkata Metro recently introduced a paper ..

Next Story
Infrastructure Urban

India and Nepal Sign MoU to Strengthen WASH Sector Cooperation

India and Nepal signed a Memorandum of Understanding (MoU) on March 3, 2025, to enhance cooperation in the Water, Sanitation, and Hygiene (WASH) sector, including waste management. The signing ceremony took place at Sushma Swaraj Bhawan in New Delhi, attended by India’s Union Minister of Jal Shakti, CR Patil, and Nepal’s Minister of Water Supply, Pradeep Yadav. The agreement aims to foster collaboration between the two countries to improve access to clean drinking water and sanitation. It outlines key areas of cooperation such as capacity-building programs for Nepali personnel, techno..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?