The state government of Uttar Pradesh has, so far, received 38 proposals expressing interest to invest around ₹500 crore (€59k) in bioenergy plants in the state, reported Hindustan Times.
These proposals have come within a month and a half of clearance of an bioenergy policy by the Cabinet, officials familiar with the issue said.
Fifteen of 38 investors already have land of their own while the rest may have to depend on the government to make land available to them to set up plants.
“We have received [the] highest number of 34 applications, for investment in compressed biogas (CBG), three for biodiesel and one for pallet,” UPNEDA secretary Neelam said.
“Fifteen plants for which land is already available are expected to come very soon after the proposals in this regard are cleared,” she said.
The investors' response to the bioenergy policy, was quite encouraging, she continued, and added it was also evident during an interactive meet organised by NEDA on 15October to apprise them of opportunities to invest under the bioenergy policy in the state.
The proposals have been received to set bioenergy plants in districts such as Muzaffarnagar, Meerut, Saharanpur, Sitapur, Bareilly, Prayagraj, Barabanki, Chandauli and Sambhal.
Named “Uttar Pradesh State Bioenergy Policy 2022”, the policy seeks to promote production of CBG, biocoal and biodiesel in the state by providing substantial incentives, concessions and capital subsidy to the producers.
The policy targets production of 1,000 tons of compressed biogas per day, 4,000 tons of bio-coal (pallets) per day and 2,000 kiloliter biodiesel per day.