GAIL (India) Limited and VERBIO India Private Limited have signed a memorandum of understanding (MoU) to establish agricultural residue-based compressed biogas (CBG) plants in India.
Under the agreement, the two parties plan to identify suitable locations for greenfield CBG plants as a joint venture (JV). They will conduct feasibility studies for the identified projects and seek investment approval from their management for the projects and forming a JV company. Additionally, GAIL may consider acquiring equity in VERBIO’s existing CBG plant in Punjab.