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Mumbai, Feb 20, 2024: Bajaj Hindusthan Sugar Limited (Bajaj Sugar) and EverEnviro Private Limited have joined hands to set up CBG (compressed biogas) plants in Uttar Pradesh.
Bajaj Hindusthan Sugar presently generates around 500,000 M.T. of press mud annually from its 14 operational sugar mills which can potentially help set up CBG plants with a total capacity of 70 M.T. per day. Bajaj Sugar is Asia’s largest owner of crushing capacity and globally one of the largest.
On the development, Bajaj Group Chairman, Mr. Kushagra Bajaj’s office said, “Bajaj Group has been in business for more than 90 years now and the focus has always been on nation building. The Government of India and Government of Uttar Pradesh has been promoting and encouraging setting up of CBG plants and production of CBG as renewable gas in line with country’s objective to reduce dependency on fossil fuels. CBG is an eco-friendly fuel derived from various waste streams. Press-mud from sugar mills is one such main by-product that Bajaj Sugar aims to utilise to
produce green energy.”
EverEnviro is India’s largest CBG player as on date with projects already commissioned & operational and projects under commissioning in M.P., U.P., Delhi and Punjab based on municipal organic waste, agro waste from paddy fields and residue waste from sugarcane crushing.
“Our partnership with Bajaj Hindusthan Sugar Limited marks a significant milestone in our journey towards sustainable energy solutions. Through this alliance, EverEnviro will leverage its expertise to develop, operate, and scale up CBG projects across Uttar Pradesh. The steady supply of press mud from Bajaj Hindusthan’s sugar mills will significantly boost the CBG production capacity of our plants. Furthermore, the fermented organic manure produced as a byproduct of CBG will promote regenerative agriculture, enhancing soil health and fertility in the region. This initiative aligns perfectly with our nation’s objective of reducing fossil fuel dependency and promoting environmental sustainability”, said Mr Mahesh Girdhar, MD and CEO, EverEnviro Resource Management Pvt Ltd.
Under the bilateral arrangement with EverEnviro, Bajaj Sugar will have the option to either sell press-mud at predetermined long-term prices and / or take equity in the CBG plant project alongside EverEnviro.
Leveraging on its experience of operating in Uttar Pradesh, Bajaj Sugar will overall pursue a mixed strategy to realize partial value for its press-mud as fixed value in cash and partial value by way of taking equity in the CBG project. This starts a new chapter in Bajaj Sugar’s growth story, adding another green fuel to our portfolio (in addition to Ethanol), as part of a sustainable revenue model.