India is set to introduce a program to spur compressed biogas production through higher guaranteed purchase prices and subsidies for new plants, a bid by Prime Minister Narendra Modi’s government to lower carbon emissions and cope with soaring fossil fuel costs.
The policy expected to debut this month would increase the offtake price of compressed biogas, or CBG, and offer financial benefits to companies for spending on new projects, according to people familiar with the matter. The goal is to increase the number of operational CBG plants over the next several years to about 700 from roughly 200 currently, said the people, who did not want to be identified discussing confidential details.
