ARYA secures Rs 1 billion for biogas projects with IOCL, BPCL

29 Oct 2024 CW Team

As a wholly-owned subsidiary of GPS Renewables, ARYA concentrates on sustainable biofuels and industrial decarbonisation projects designed to contribute to India’s Net Zero goals. The funds will expedite the growth of climate-positive initiatives under the ARYA brand of GPS Renewables, utilizing the company's expertise in technology and engineering.

Mainak Chakraborty, CEO of GPS Renewables and Chairman of ARYA, remarked that the current funding round would enhance their efforts to accelerate joint ventures with Indian Oil Corporation and Bharat Petroleum. He noted that these projects hold significant potential in supporting India's shift toward sustainable green energy. Over the upcoming year, the company aims to expand its capacity and reinforce partnerships with key industry players.

Previously, GPS Renewables, a prominent player in biofuel technology, raised Rs 4.11 billion through debt financing from institutions such as Punjab National Bank, HDFC, and HSBC. The company also secured $20 million in equity from Neev Fund II, managed by SBICap Ventures, along with Hivos-Triodos Fund and Caspian Impact Investments.

GPS Renewables provides comprehensive solutions across the biofuel development, production, and distribution lifecycle, with a focus on Compressed Biogas (CBG), Renewable Natural Gas (RNG), and Sustainable Aviation Fuel (SAF). The company has established over 100 biogas plants, including Asia’s largest RNG facility in Indore, inaugurated by Prime Minister Narendra Modi.

Recently, GPS Renewables expanded its capabilities by acquiring Germany-based Proweps Envirotech GmbH, enhancing its expertise in converting municipal, industrial, and agricultural waste into biogas.

ARYA, the project development division of GPS Renewables, has secured Rs 1 billion in mezzanine financing from InCred Opportunities Fund and Spark Capital. This funding is part of a larger Rs 2 billion round ARYA is raising to advance its Compressed Biogas (CBG) projects in partnership with Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation (BPCL). As a wholly-owned subsidiary of GPS Renewables, ARYA concentrates on sustainable biofuels and industrial decarbonisation projects designed to contribute to India’s Net Zero goals. The funds will expedite the growth of climate-positive initiatives under the ARYA brand of GPS Renewables, utilizing the company's expertise in technology and engineering. Mainak Chakraborty, CEO of GPS Renewables and Chairman of ARYA, remarked that the current funding round would enhance their efforts to accelerate joint ventures with Indian Oil Corporation and Bharat Petroleum. He noted that these projects hold significant potential in supporting India's shift toward sustainable green energy. Over the upcoming year, the company aims to expand its capacity and reinforce partnerships with key industry players. Previously, GPS Renewables, a prominent player in biofuel technology, raised Rs 4.11 billion through debt financing from institutions such as Punjab National Bank, HDFC, and HSBC. The company also secured $20 million in equity from Neev Fund II, managed by SBICap Ventures, along with Hivos-Triodos Fund and Caspian Impact Investments. GPS Renewables provides comprehensive solutions across the biofuel development, production, and distribution lifecycle, with a focus on Compressed Biogas (CBG), Renewable Natural Gas (RNG), and Sustainable Aviation Fuel (SAF). The company has established over 100 biogas plants, including Asia’s largest RNG facility in Indore, inaugurated by Prime Minister Narendra Modi. Recently, GPS Renewables expanded its capabilities by acquiring Germany-based Proweps Envirotech GmbH, enhancing its expertise in converting municipal, industrial, and agricultural waste into biogas.

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Real Estate

17 Dec 2025

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

Real Estate

17 Dec 2025

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..