VA Tech Wabag Limited (WABAG), a leading pure-play water technology company, has signed an agreement with Peak Sustainability Ventures (Peak) to establish 100 Bio-CNG plants at sewage treatment facilities across India and other mutually agreed-upon locations in the GCC, Africa, and European countries.
The business potential for the establishment of 100 Bio-CNG plants is expected to be over USD 200 million and this collaboration aims to generate over 73 Million Kgs of Bio-CNG per annum.
The parties aim to harness the unutilized potential of Sewage treatment plants and to generate Bio-CNG which can be used for mobility applications in trucks and heavy-duty vehicles, and industrial applications, thereby reducing the need for fossil fuels.
Wabag with its experience and know-how in implementing sustainable solutions will play the role of a technology partner and will be responsible for the execution, commissioning, and operation and maintenance of the Bio-CNG plants. Peak would provide inputs in energy-related areas and assist in raising capital for financing projects at scale.
This initiative would not only meet the growing energy demand in a responsible and eco-friendly manner but also contribute to India’s commitment to greenhouse gas emission reduction and to the reduction of air pollution from methane, which has a much higher Global Warming Potential (GWP) than carbon dioxide.
Wabag is the third largest private water operator globally providing safe and clean drinking water and sanitation to over 88.8 million people across the globe.
This strategic tie-up will further boost Wabag’s commitment to a cleaner and greener world. It has already implemented around 40 large biogas generation facilities in its various projects globally.
Shailesh Kumar, CEO-India Cluster at Wabag said, it is already producing more than 40 MWh of green energy through its various installed plants. “With this collaboration, we are taking the next step in our green energy segment to produce cleaner and greener fuel and to support the country’s vision of Atmanirbhar Bharat. This aligns perfectly with the vision of implementing sustainable solutions for a better life.”
Peak manages an Alternative Investment Fund (AIF) which invests across 4 verticals: new energy (renewables, energy storage, waste-to-energy, hydrogen, etc.), food systems, water, and other climate-related sectors to address the mitigation and adaptation objectives of the SDG goals.
Samir Shah, Managing Partner of Peak Sustainability Ventures said, “With our deep understanding of the energy space and our global network and relationships, we shall focus on bringing institutional capital to this pioneering initiative and work with Wabag to evaluate innovative technologies globally which can result in higher efficiency, improved process flow, hydrogen extraction and other ways to improve project outcomes. Through this collaboration, we hope to contribute towards accelerating India’s energy transition to a low carbon future.”
This will be a significant boost to the local and agrarian economies and will also result in employment opportunities while simultaneously providing immense ecological benefits, further empowering the G20 initiative of the Global Biofuel Alliance and enhancing the energy security of the country.
