Indian biomass market anticipated to reach Rs 320 bn by FY31: Report

According to a research, the Indian biomass market is anticipated to reach Rs 320 billion by FY 2030- 31 thanks to government initiatives and investments from international green energy businesses.

According to a report by 1Lattice, a technology-enabled decision support organisation, the introduction of new schemes in the support of biomass cogeneration projects is playing a critical role in the capacity expansions of small biogas plants located in distant and rural portions of India.

Global green energy businesses are making investments in the Indian biomass market. According to the report, there is an increasing need for businesses in India to have access to clean, dependable power, and biomass as an energy source is anticipated to play a critical role in satisfying this need.

“India currently has an installed capacity of 10.2 GW for biomass production and the biomass market in India is expected to reach Rs 32,000 crore by FY 31,” said Abhishek Maiti, Director of 1Lattice.

He added that organisations will have the chance to make climate-smart decisions and get the world closer to the goal of net-zero carbon emissions through investments and cooperation in the biomass energy ecosystem. By these investments, participants in the biomass energy ecosystem will be able to offer consumers more environmentally friendly options, aiding in the realisation of the objective of a sustainable society, he continued.

India currently has access to around 750 MMT of biomass annually, with an additional 230 MMT of surplus biomass available. India's installed biomass production capacity increased at a CAGR of 4%, reaching 10 GW in FY22. Government programmes that promote technologies for the best use of the nation's biomass resources include the biomass power & cogeneration programme and the revised strategy for biomass utilisation.