RIL Partners With DBS Bank To Fund Compressed-Biogas Infrastructure
Reliance Industries Ltd. and DBS Bank India have come together to finance compressed-biogas projects and establish a permanent supply chain for feedstocks for such plants.
They plan to introduce customised standard supply-chain financing model to meet the requirements of RIL's CBG projects, according to a statement by DBS Bank on Thursday.
RIL has planned to set up 100 CBG plants over the next five years and it will require new infrastructure and value-chain engagements with farmers. However, the CBG industry is highly fragmented and dependent on agriculture, which has seasonal variations.
The financing will enable the ecosystem development for vendor partners to aggregate agri-residue as inputs for the Reliance's CBG production plants across India. The funding structure will ensure that the logistics are designed in a way that this new stream remains competitive and achieves enhanced commercial scale, DBS Bank said.
"Transition financing plays a crucial role in enabling businesses to identify and scale new technologies that can accelerate the path to decarbonisation," Rajat Verma, managing director of DBS Bank India, said,
CBG plants are one of the main ways to utilise the massive organic waste that the society produces, the burning of which is one of the major contributors to air pollution, according to Harindra Tripathi, head of bioenergy business at RIL.
The Reliance CBG plants will also contribute towards the production of fermented organic manure, which will enhance soil fertility and reduce consumption of chemical fertilisers over a period, Tripathi said.
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