IOCL, GPS Renewables Join Hands To Setup CBG Plants
CEF Group, a homegrown clean-tech enterprise focused on sustainable waste management and renewable energy, has secured €38 million in equity and debt funding from the German Export Finance Bank. The investment will support the establishment of two compressed biogas (CBG) plants in India.
Specializing in the construction and operation of CBG facilities, CEF Group converts agricultural, agro-industrial, and municipal waste into clean fuel, contributing to India’s circular economy goals.
In a statement, Maninder Singh, Founder and CEO of CEF Group, said, “At CEF Group, we believe that India’s future lies in turning its waste into wealth. This milestone investment will enable us to fast-track the development of 22 CBG plants across the country, converting municipal and agricultural waste into clean, renewable energy.”
Singh stated that as a home-grown clean-tech company aligned with the SATAT (Sustainable Alternative Towards Affordable Transportation) vision, CEF Group is not just building biogas plants but also empowering rural economies, advancing energy independence and driving India’s transition to a truly circular economy.
The investment was facilitated by Rieckermann through its export credit agency-backed financing service. Initial contracts and implementation have been completed for two specific projects: CEF Jammu Energy Pvt Ltd and CEF Ahmedabad Cleaneffentech Pvt Ltd.
Trade Finance Swiss GmbH, a Rieckermann Group company, has been appointed as the project manager and general supplier for engineering, equipment, and related services. The firm is also handling the structuring and arrangement of long-term financing, backed by the export credit agency.
Once operational, the two facilities will process up to 850 tonnes of municipal solid waste per day, producing compressed biogas along with valuable by-products such as organic manure and refuse-derived fuel (RDF).
This strategic partnership marks a significant step forward in India’s transition toward sustainable energy and waste-to-value infrastructure.
Recently another biogas major – ARYA- the project development division of GPS Renewables, secured Rs 100 crore in mezzanine funding from InCred Opportunities Fund and Spark Capital.
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