Oil India subsidiary OGEL signs agreement with Hindustan Waste Treatment for bioenergy projects
New Delhi, May 27
Oil India Ltd's wholly owned subsidiary OIL Green Energy Ltd has signed a joint venture agreement with Hindustan Waste Treatment Pvt Ltd to develop bioenergy and sustainable waste management projects in India, according to a stock exchange filing by the company.
"OGEL, a wholly owned subsidiary of Oil India Limited (OIL)... and Hindustan Waste Treatment Pvt. Ltd. (HWT)... have signed a Joint Venture Agreement (JVA) to collaborate in the development of integrated bioenergy and sustainable waste management projects in India," the company said.
The partnership envisages the formation of a 50:50 joint venture company to pursue opportunities in compressed biogas (CBG), waste-to-energy and allied sustainable infrastructure projects aligned with India's clean energy transition and circular economy objectives, Oil India said in its release.
Oil India said OGEL was established to drive the company's strategic initiatives in renewable and green energy sectors, including CBG and other emerging clean energy opportunities.
The proposed joint venture will explore opportunities in CBG, integrated waste-to-energy and sustainable resource recovery projects across suitable geographies in India, the release stated.
Hindustan Waste Treatment Pvt Ltd, a wholly owned subsidiary of SFC Environmental Technologies Ltd, is a technology-driven company in the biogas sector with expertise in design, engineering, construction, commissioning, operations and maintenance of municipal solid waste-based bioenergy projects.
According to the release, the company has deployed and operated advanced global technologies in India, including a municipal solid waste-based biogas plant in North Goa that has been operational for more than a decade.
"Representatives from both organisations expressed confidence that the collaboration would contribute towards India's vision of Atmanirbharta and energy self-reliance," the company said.
The partnership aims to combine OGEL's energy sector experience with HWT's technological and operational capabilities in the municipal solid waste-based bioenergy sector to support scalable and sustainable clean energy solutions in India, the release added.
— ANI
Reader Comments
Finally, some real action on CBG! We've been talking about it for years. Hope this JV brings affordable biogas to villages too, not just big cities.
Smart collaboration. Waste management is a huge challenge in India, and turning it into energy is a win-win. Need to see if the 50:50 split works operationally though.
Atmanirbharta in energy is the way forward! But we need to ensure local communities benefit, not just big corporations. Transparency in project execution is key. 👍
Great to see PSUs diversifying into renewables. CBG from municipal waste is a sustainable solution that also addresses sanitation issues. Hope timelines are realistic. 😊
A 50:50 JV with a tech company that has decade-old experience in Goa sounds promising. But I hope OGEL brings more than just capital—real energy expertise matters for scaling up.
This is what we need—public-private partnerships for clean energy. But please include waste segregation at source or this won't work efficiently. Common sense, yaar! 😅
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