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 Urban

07 Oct 2025

India To Invest $37 Billion To Boost Petrochemical Capacity

India is set to become a major global player in the petrochemicals industry, driven by a planned capital expenditure of $37 billion (Rs 3.1 trillion) aimed at reducing import dependency and enhancing self-sufficiency, according to S&P Global Ratings.In its latest report titled “First China, Now India: Self-Sufficiency Goals Will Add To Petrochemicals Supply”, S&P said India’s large-scale capacity expansion—mirroring China’s earlier push—will likely intensify oversupply pressures in Asia’s petrochemical markets.Currently the world’s third-largest petrochemical consumer a..

Infrastructure Transport

07 Oct 2025

Indian Railways Expands Global Exports Of Rail Equipment

Indian Railways has announced that it is rapidly emerging as a global exporter of railway equipment, including bogies, coaches, locomotives, and propulsion systems, under the government’s ‘Make in India, Make for the World’ initiative.According to an official statement, India’s railway products are now reaching over 16 international markets, reflecting the country’s growing capacity to design, develop, and deliver world-class rail solutions.Metro coaches have been exported to Australia and Canada; bogies to the United Kingdom, Saudi Arabia, France, and Australia; propulsion systems t..

Infrastructure Transport

07 Oct 2025

RailTel Awards Rs 163 Million Contract To RTNS Technology

RailTel Corporation of India Limited (RailTel), a Mini Ratna Public Sector Undertaking, has awarded a domestic work order worth Rs 163 million to RTNS Technology Private Limited.The contract, issued on 30 September 2025, involves the supply and installation of equipment and related services for one of RailTel’s key customers. The project underscores RailTel’s commitment to advancing technology and communication infrastructure through collaboration with domestic system integrators.RTNS Technology Private Limited, an ISO-certified system integrator, provides comprehensive solutions for perim..