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.