Chennai, NFAPost: VA Tech Wabag, the Chennai-based pure-play water technology company has entered into an MoU with Peak Sustainability Ventures (PEAK) to establish 100 bio-CNG plants at sewage treatment facilities across India and other chosen locations in the GCC, Africa, and European countries.
The business potential arising out of the establishment of 100 bio-CNG plants is expected to be over $ 200 million and this collaboration aims to generate over 73 million kgs of bio-CNG per annum. Bio-CNG production from sewage treatment plants exemplifies an innovative and environmentally conscious approach, transforming a once-discarded resource into a valuable and versatile energy asset.
Through this collaboration, the parties aim to harness the unutilised potential of sewage treatment plants and to generate bio-CNG which can be used for mobility application in trucks and heavy duty vehicles, and for industrial applications, thereby reducing the need for fossil fuels.
Wabag with its experience in implementing sustainable solutions will play the role of a technology partner and will be responsible for execution, commissioning and O&M of the bio-CNG plants.
PEAK would provide inputs in energy related areas and assist in raising capital for financing projects at scale, Wabag is the third largest private water operator globally providing safe and clean drinking water and sanitation to over 88.8 million people across the globe. This strategical tie-up will further boost Wabag’s commitment towards a cleaner and greener world.
Wabag India cluster CEO Shailesh Kumar said Wabag is already producing more than 40 MWh of green energy through its various installed plants.
“With this collaboration, we are taking the next step in our green energy segment to produce cleaner and greener fuel,” said Wabag India cluster CEO Shailesh Kumar.
Wabag has already implemented around 40 large biogas generation facilities in its various projects globally. PEAK manages an alternative investment fund (AIF) which invests across 4 verticals, such as new energy (renewables, energy storage, waste-to-energy and hydrogen , food systems, water and other climate related sectors to address the mitigation and adaptation objectives of the SDG goals.
Peak Sustainability Ventures Managing Partner Samir Shah said with our deep understanding of the energy space and global network and relationships, the company shall focus on bringing institutional capital to this pioneering initiative.
“We work with Wabag to evaluate innovative technologies globally which can result in higher efficiency, improved process flow, hydrogen extraction and other ways to improve project outcomes,” said Peak Sustainability Ventures Managing Partner Samir Shah.
