GAIL to invest in start-ups operating in area of bio gas

GAIL India on Friday opened a fresh round for solicitation of investment proposals from start-ups operating in the area of compressed bio gas (CBG).

The solicitation round is open till July 24. Start-ups operating in providing technology, planning to expand their existing CBG plants or planning to set-up new CBG plants can apply.

GAIL had launched its ambitious start-up initiative ‘Pankh’ in July 2017 to invest in promising start-ups. So far, it has made investments in 24 start-ups operating in various areas through four solicitation rounds.

India has vast biomass resources and the government is giving special emphasis on its utilisation by encouraging setting-up of CBG plants.

Besides, oil and gas companies are ready to give commitment for offtake of CBG through the issue of letters of intent.

Via: ANI