VA Tech Wabag inks pact with PEAK to generate bio-fuels from STPs
Water technology behemoth VA Tech Wabag Limited has entered into an agreement with Mumbai-based alternative investment fund (AIF) manager Peak Sustainability Ventures (PEAK) for generating energy from waste through setting up 100 bio-CNG plants at sewage treatment facilities across India and other mutually agreed-upon locations in the GCC, Africa, and European countries.
The unique bio-fuel collaboration aims to harness the unutilized potential of STPs to generate bio-CNG which can be used for mobility application in trucks and heavy duty vehicles as well as for industrial applications, thereby reducing the need for fossil fuels.
The business potential for 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.
According to an official statement, the initiative would not only meet the growing energy demand in a responsible and ecofriendly manner, but also contribute to India’s commitment to GHG emission reduction and to reduction of air pollution from methane, which has much higher Global Warming Potential
(GWP) than carbon dioxide.
Chennai-based VA Tech Wabag is now the thorf largest private water operator globally with providing safe and clean drinking water and sanitation to over 88.8 million people across the globe. This strategical tie-up will further boost the company’s commitment towards a cleaner and greener world. 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: new energy (renewables, energy storage, waste-to-energy, hydrogen etc.), food systems, water and other climate related sectors to address the mitigation and adaptation objectives of the SDG goals.
“Wabag has always been a frontrunner in terms of implementing sustainable solutions and in generating green energy. Wabag is already producing more than 40 MWh of green energy through its various installed plants. With this collaboration, we are taking a next step in our green energy segment to produce cleaner and greener fuel and to support country’s vision of Atmanirbhar Bharat. This aligns perfectly with vision of implementing sustainable solutions for a better life”, said VA Tech Wabag CEO-India Cluster Shailesh Kumar.
Wabag with its experience & know-how 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.
“we are excited to collaborate with Wabag in this initiative to establish a pathway for meeting India’s energy goals in a sustainable manner using methane generated by STPs, which would otherwise result in higher emissions and pollution. With our deep understanding of the energy space and our global network and relationships, we shall focus on bringing institutional capital to this pioneering initiative and 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 said.
