NexGen Energia mulls Rs 15,000 cr investment in green diesel, CBG pumps

Noida based green energy solutions company NexGen Energia is set to invest Rs 15,000 crore to establish 5,000 green diesel and compressed biogas (CBG) pumps across India over the next decade.

NexGen Energia has recently launched its first CBG pump in Mau district, Uttar Pradesh, marking its entry into engineering, procurement, and construction (EPC) services in the clean energy sector.

The Chairman of NexGen Energia Piyush Dwivedi said that his firm’s dedication to clean energy extends far beyond this single pump. Dwivedi plans to open 5,000 green diesel and CBG pumps nationwide in multiple phases over the next 10 years, with each pump costing approximately Rs 3 crore. Through this initiative, the company is committing Rs 15,000 crore to the green energy sector.

As per the statement, the upcoming initiative will create around 5,000 new entrepreneurs and provide direct and indirect employment to over 1 million people. The aim of NexGen Energia is to make India self-reliant in the green energy sector, thereby reducing fuel imports by about 30%.

The company’s vision extends beyond providing clean fuel, focusing on building a robust infrastructure to support a sustainable future for transportation in India. This substantial expansion is expected to attract significant investment into the Indian economy, spurring notable economic growth..

In April, NexGen Energia’s e-mobility arm, NGE, launched an affordable fleet of two-wheeler electric vehicles (EVs), with prices starting at Rs 36,999.

In March, the company has announced that it will be investing about Rs 3,000 crore in a state-of-the-art Compressed Biogas (CBG) facility in Gujarat; following discussions with Gujarat Chief Minister Bhupendra Patel.