India's Green Energy Transition Boosted by INR 836 Crore CBG Project Loan
In a significant boost to India's green energy transition, Indian Bank has disbursed INR 836 crore (around USD 95 million) to IOC GPS Renewables Pvt. Ltd. (IGRPL) for the expansion of nine Compressed Biogas (CBG) projects. This is the largest single-bank debt raise in the CBG sector and the first fully non-recourse debt raise in this sector.
The loan agreement, executed on September 30, 2025, in New Delhi, will support IGRPL's joint venture between Indian Oil and GPS Renewables Arya. The funds will be utilised to develop CBG plants in Haryana, Uttar Pradesh, Chhattisgarh, and Andhra Pradesh, with each plant capable of producing 15 tonnes of CBG per day using paddy straw as the primary feedstock.
The joint venture aims to convert organic waste into CBG, a cleaner and renewable energy source that significantly reduces greenhouse gas emissions compared to traditional fossil fuels. All nine plants are expected to be completed and commissioned in 2026, marking a substantial step towards India's sustainable energy goals.
The INR 836 crore loan from Indian Bank to IGRPL will facilitate the expansion of nine CBG projects, providing a sustainable alternative to fossil fuels and contributing to India's commitment to reducing greenhouse gas emissions.
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