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

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

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.

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.

Next Story
Equipment

Handling concrete better

Efficiently handling the transportation and placement of concrete is essential to help maintain the quality of construction, meet project timelines by minimising downtimes, and reduce costs – by 5 to 15 per cent, according to Sandeep Jain, Director, Arkade Developers. CW explores what the efficient handling of concrete entails.Select wellFirst, a word on choosing the right equipment, such as a mixer with a capacity aligned to the volume required onsite, from Vaibhav Kulkarni, Concrete Expert. “An overly large mixer will increase the idle time (and cost), while one that ..

Next Story
Real Estate

Elevated floors!

Raised access flooring, also called false flooring, is a less common interiors feature than false ceilings, but it has as many uses – if not more.A raised floor is a modular panel installed above the structural floor. The space beneath the raised flooring is typically used to accommodate utilities such as electrical cables, plumbing and HVAC systems. And so, raised flooring is usually associated with buildings with heavy cabling and precise air distribution needs, such as data centres.That said, CW interacted with designers and architects and discovered that false flooring can come in handy ..

Next Story
Infrastructure Urban

The Variation Challenge

A variation or change in scope clause is defined in construction contracts to take care of situations arising from change in the defined scope of work. Such changes may arise due to factors such as additions or deletions in the scope of work, modifications in the type, grade or specifications of materials, alterations in specifications or drawings, and acts or omissions of other contractors. Further, ineffective planning, inadequate investigations or surveys and requests from the employer or those within the project’s area of influence can contribute to changes in the scope of work. Ext..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?