Adani Total Gas (ATGL) jumped 4.62% to Rs 968.25 after the company's wholly owned subsidiary, Adani TotalEnergies Biomass said that it has commissioned operations at phase 1 of Barsana Biogas Plant, located in the Mathura, Uttar Pradesh.
The Barsana Biogas Project has 3 project phases and would attain the overall capacity of 600 tons per day (TPD) of feedstock, generating over 42 TPD of compressed bio gas (CBG) and 217 TPD of organic fertilizer upon full commissioning.
This plant will be Indias largest agri waste-based bio-CNG plant after reaching full design capacity at phase 3. The project cost for all three project phases for the Barsana Biogas plant would be in excess of Rs 200 crore, according to the company.
By utilizing advanced anaerobic digestion technology, the plant converts organic materials into renewable biogas, significantly reducing greenhouse gas emissions and reliance on fossil fuels, besides aiding to the nations fuel security and emission reduction goals.
Suresh P Manglani, ED & CEO, ATGL said, In addition to producing Compressed Bio Gas (CBG), the plant yields high-quality organic fertilizer, contributing to circular economy principles and agricultural sustainability. The setting up and initiation of CBG production fully aligns with our promoters - Adani Group and TotalEnergies - broader sustainability goals and by investing in renewable energy like CBG. Adani Group and TotalEnergies aim to play a pivotal role in the global transition to a lowcarbon economy.
Adani Total Gas is one of India's leading private players in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, commercial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector.
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The natural gas distribution company reported 16.1% increase in net profit to Rs 172.28 crore in Q3 FY24 as against with Rs 148.39 crore recorded in Q3 FY23. Revenue from operations rose 4.86% year on year (YoY) to Rs 1,243.16 crore in the quarter ended 31 December 2023.
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