Bondada Group mulls Rs 3,000 crore investment in Goa’s biogas/RE projects

Hyderabad headquartered Bondada Engineering Ltd, part of Bondada Group, has signed an MoU with the Goa Investment Promotion and Facilitation Board (Goa-IPB) for a proposed investment of approximately Rs 3,000 crore in renewable energy projects, including biogas and solar energy, in Goa.

The proposed investment is expected to strengthen the state’s clean energy infrastructure, with biogas emerging as one of the key areas of focus. As per reports, the projects are also expected to generate more than 700 employment opportunities, creating new avenues for economic activity and supporting the state’s sustainable development goals.

The proposed biogas projects could contribute to the development of alternative energy sources by promoting the conversion of organic waste into clean fuel. Such initiatives also have the potential to support better waste management, reduce dependence on conventional fossil fuels and encourage the development of a circular economy.

The MoU marks an expansion of Bondada Group’s presence in the renewable energy sector and reflects its interest in participating in India’s growing clean energy market. For Goa, investments in biogas could provide an opportunity to connect waste management with energy generation while strengthening its efforts towards energy security and environmental sustainability.

Under the agreement, Goa-IPB will facilitate the necessary permissions, registrations, statutory approvals and clearances required for setting up and operationalising the proposed projects. The board will also assist the company in accessing eligible fiscal and non-fiscal incentives available under the prevailing policies and regulations of the Goa government.

The MoU is non-binding in nature. The proposed investments and projects will be subject to further evaluation, statutory approvals, regulatory clearances and completion of other necessary formalities.

Bondada Engineering has stated the initiative reflects the group’s continued commitment to expanding its renewable energy portfolio, generating employment and contributing to sustainable infrastructure development.