Axllo Green Energy Secures $66M Funding for 20 CBG Plants in South India
- October 11, 2024
- 0
Axllo Green Energy Private Limited (AGEPL) is poised for a significant leap in the renewable energy sector, securing full funding for 20 Compressed Biogas (CBG) plants across South India. A United Kingdom-based investment firm M/s Climate Capital Technolgy Limited, London, has committed an impressive $66M (around 560 Crores INR) for the erection, commissioning, and operation of these plants, each with a capacity of 5 TPD (Tonnes Per Day).
The first plant, located near Bagalkot, Karnataka, is set to be commissioned on Axllo’s 5-acre land plot. The plant will process Pressmud and Napier Grass as feedstock to produce 5,000 kgs of Compressed Biogas daily. In addition to biogas, the plant will generate valuable by-products such as 32 tonnes of solid manure per day and carbon credits, contributing to environmental sustainability and carbon emission reductions.
The UK-based financing company views this partnership as a key entry into the Indian market, with a primary focus on transacting carbon credits in the international market. Carbon credits are projected to have substantial financial potential, offering promising returns on investment while supporting global carbon reduction efforts.
Commenting on the investment, the CEO of the UK-based financing firm, Climate Capital Technology Limited, Mr. Douglas Prentice, said, “We will work closely with the Axllo team to ensure a smooth transition of funds in alignment with the project’s milestones. We believe this partnership will significantly contribute to India’s renewable energy goals and global efforts towards sustainable energy solutions.”
AGEPL’s CEO and Managing Director, Mr. Sadanand M. Banagar, emphasized the importance of the project beyond its financial value, stating, “Beyond the lucrative financial returns, we are committed to supporting green initiatives that align with our mission to drive sustainability and combat climate change. The significant reduction in carbon emissions and the promotion of renewable energy in rural areas make this project particularly compelling for us.”
This collaboration marks a milestone in Axllo Green Energy’s journey towards a greener and more sustainable energy future, positioning it as a key player in India’s renewable energy landscape.
Contact : Mr. Basavaraj KJ
Media Liason
+91-93800 08946
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