Indian biomass market anticipated to reach Rs 320 bn by FY31: Report
POWER & RENEWABLE ENERGY

Indian biomass market anticipated to reach Rs 320 bn by FY31: Report

According to a research, the Indian biomass market is anticipated to reach Rs 320 billion by FY 2030- 31 thanks to government initiatives and investments from international green energy businesses.

According to a report by 1Lattice, a technology-enabled decision support organisation, the introduction of new schemes in the support of biomass cogeneration projects is playing a critical role in the capacity expansions of small biogas plants located in distant and rural portions of India.

Global green energy businesses are making investments in the Indian biomass market. According to the report, there is an increasing need for businesses in India to have access to clean, dependable power, and biomass as an energy source is anticipated to play a critical role in satisfying this need.

“India currently has an installed capacity of 10.2 GW for biomass production and the biomass market in India is expected to reach Rs 32,000 crore by FY 31,” said Abhishek Maiti, Director of 1Lattice.

He added that organisations will have the chance to make climate-smart decisions and get the world closer to the goal of net-zero carbon emissions through investments and cooperation in the biomass energy ecosystem. By these investments, participants in the biomass energy ecosystem will be able to offer consumers more environmentally friendly options, aiding in the realisation of the objective of a sustainable society, he continued.

India currently has access to around 750 MMT of biomass annually, with an additional 230 MMT of surplus biomass available. India's installed biomass production capacity increased at a CAGR of 4%, reaching 10 GW in FY22. Government programmes that promote technologies for the best use of the nation's biomass resources include the biomass power & cogeneration programme and the revised strategy for biomass utilisation.

According to a research, the Indian biomass market is anticipated to reach Rs 320 billion by FY 2030- 31 thanks to government initiatives and investments from international green energy businesses. According to a report by 1Lattice, a technology-enabled decision support organisation, the introduction of new schemes in the support of biomass cogeneration projects is playing a critical role in the capacity expansions of small biogas plants located in distant and rural portions of India. Global green energy businesses are making investments in the Indian biomass market. According to the report, there is an increasing need for businesses in India to have access to clean, dependable power, and biomass as an energy source is anticipated to play a critical role in satisfying this need. “India currently has an installed capacity of 10.2 GW for biomass production and the biomass market in India is expected to reach Rs 32,000 crore by FY 31,” said Abhishek Maiti, Director of 1Lattice. He added that organisations will have the chance to make climate-smart decisions and get the world closer to the goal of net-zero carbon emissions through investments and cooperation in the biomass energy ecosystem. By these investments, participants in the biomass energy ecosystem will be able to offer consumers more environmentally friendly options, aiding in the realisation of the objective of a sustainable society, he continued. India currently has access to around 750 MMT of biomass annually, with an additional 230 MMT of surplus biomass available. India's installed biomass production capacity increased at a CAGR of 4%, reaching 10 GW in FY22. Government programmes that promote technologies for the best use of the nation's biomass resources include the biomass power & cogeneration programme and the revised strategy for biomass utilisation.

Next Story
Real Estate

Varun Malik Joins ANAROCK as MD, Head of Capital Markets, APAC

ANAROCK Capital has appointed Varun Malik as Managing Director, Head of Capital Markets (APAC), marking a strategic move to expand its presence across Asia-Pacific. Based in Singapore, Malik will drive ANAROCK’s capital markets initiatives in the region.A real estate finance veteran, Malik brings over 18 years of experience in structuring complex cross-border transactions across South-East Asia and Australia. He has led debt and equity deals for REITs, fund managers, and developers, delivering strong returns and driving investor value.“We will redefine real estate capital solutions across ..

Next Story
Real Estate

Patra Chawl lottery held, 663 families allotted homes

Mumbai's Siddharth Nagar (Patra Chawl) Co-operative Housing Society members in Goregaon (West) saw their 15-year wait come to a close as MHADA conducted a successful computerised lottery for 663 eligible members under its redevelopment scheme.The Mumbai Housing and Area Development Board conducted the draw using the RAT (Randomised Allotment of Tenement) system at Sardar Vallabhbhai Patel Hall. The lottery, overseen by Mr. Milind Borikar, Chief Officer of Mumbai Board, ensured transparency by digitally allotting each member a building, wing, and floor.The project, located on Plot R-9, received..

Next Story
Infrastructure Transport

BLR Airport crosses 41 million passengers, 500,000 MT cargo

Kempegowda International Airport, Bengaluru (BLR Airport), has recorded key operational milestones in FY 2024-25, crossing 41.88 million passengers and handling 502,480 metric tonnes of cargo. This marks a year-on-year passenger growth of 11.6 per cent and a 14 per cent rise in cargo volumes.Domestic footfall reached 36.05 million, up 10 per cent, while international traffic saw a robust 25 per cent jump to 5.83 million, aided by Indigo’s global expansion and added frequencies by international carriers. BLR Airport now connects to 76 domestic and 33 international destinations, with Hanoi set..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?