NexGen Energia to Invest Rs 150 bn in 5,000 Green Diesel, CBG Pumps

08 Jul 2024 CW Team

NexGen Energia, a green energy solutions company based in Noida, announced a Rs 150 billion investment plan to establish 5,000 green diesel and compressed biogas (CBG) pumps across India over the next decade. The company recently inaugurated its first CBG pump in Mau district, Uttar Pradesh, signalling its entry into executing engineering, procurement, and construction (EPC) services in the clean energy sector.

According to NexGen Energia Chairman Piyush Dwivedi, the company intends to roll out these pumps in multiple phases, each costing approximately Rs 3 crore. He stated that their investment in the green energy sector aims to reduce fuel imports by about 30%, emphasizing their broader commitment to sustainability.

Dwivedi explained that beyond fuel provision, NexGen Energia aims to foster India's self-reliance in green energy, projecting the creation of around 5,000 new entrepreneurial opportunities and offering direct and indirect employment to over 10 lakh people. The initiative, he noted, is poised to attract substantial investments into the Indian economy, promising significant economic growth.

Earlier this year, NexGen Energia's e-mobility arm, NGE, launched a line of affordable electric two-wheelers starting at Rs 36,999. The company aims to achieve sales exceeding Rs 500 crore this fiscal year, expand its network to include over 500 dealers and distributors, and generate approximately 50,000 jobs in the EV sector.

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