Indian Biogas Association hails govt move to hike procurement price of CBG

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Indian Biogas Association hails govt move to hike procurement price of CBG - Business Standard

Quick Summary:

Industry body Indian Biogas Association (IBA) on Sunday hailed the government's decision to hike the procurement price of compressed biogas, saying the move will meaningfully support unlocking the latent value of the sector.

This move demonstrates greater appreciation for the economics of the industry and will meaningfully support unlocking the latent value of bioenergy in India, IBA said in a statement.

The petroleum ministry has revised upward the CBG procurement price from Rs 1,380 per Metric Million British Thermal Unit to Rs 1,478/MMBTU, with effect from June 1.