Climate Fund Managers has committed $32.2 million from its EU-supported Climate Investor Two Construction Equity Fund to a commercial-scale waste-to-biogas facility, Akaia Green Fuels. The facility is located in Uttar Pradesh, India. The investment will support efforts to curb air pollution and greenhouse gas emissions by converting agricultural waste into compressed biogas (CBG).
The project will process about 94,000 tonnes of agricultural and organic waste annually, including paddy straw, press mud from sugar mills, and cow dung. This will produce nearly 20 tpd of CBG and around 123 tpd of fermented organic manure. Additionally, the facility is expected to prevent over 100,000 tonnes of carbon equivalent emissions annually and to improve air quality for an estimated 700,000 people across 640 villages by reducing open-field residue burning once it is operational.
Furthermore, the biogas produced will be supplied directly to the city gas distribution network under long-term offtake agreements with GAIL India and Hindustan Petroleum Corporation Limited. Moreover, GPS Renewables will develop the facility under a fixed-price engineering procurement and construction contract along with a multi-year operations and maintenance agreement. Additionally, independent technical supervision will be provided by European advisors Fichtner and TÜV in order to ensure compliance with international engineering, environmental, and safety standards.