IGRPL secures Rs 8.36 billion funding for nine CBG projects

IOC GPS Renewables Private Limited (IGRPL) has obtained Rs 8.36 billion in debt financing from Indian Bank to develop nine compressed biogas (CBG) plants across India. The projects include four sites in Haryana, three in Uttar Pradesh, and one each in Chhattisgarh and Andhra Pradesh.

Each plant will have a production capacity of 15 tonnes of CBG per day, using paddy straw as the primary feedstock. All nine facilities are scheduled for completion and commissioning in 2026.

Devendra Singh Sehgal, CEO of IGRPL, stated that the funding accelerates the company’s goal to expand India’s biogas infrastructure. He noted that this marks the first instance of an OMC joint venture securing a CBG loan without corporate collateral, reflecting IOCL’s credibility and the sector’s growth potential.