GPS Renewables Secures INR 2000 Crore Orders for CBG Projects

With this substantial order book, GPS Renewables is poised to surpass a turnover of INR 500 crore in the fiscal year 2023–24.

December 27, 2023. By Abha Rustagi

GPS Renewables, engineering company dedicated to clean fuels, has clinched orders worth INR 2000 crore for multiple compressed biogas (CBG) projects.

The ambitious initiatives, aimed at processing agricultural residue, energy crops, and municipal solid waste, are set to make a significant impact on waste management and contribute to clean energy production.

The CBG plants, designed to handle 4,000 tonnes per day of agri-residue and energy crops, will also process an additional 300 tonnes per day of municipal solid waste for biogas production, effectively preventing landfill accumulation. These projects collectively anticipate a minimum daily CBG output of 350 tonnes per day.

With this substantial order book, GPS Renewables is poised to surpass a turnover of INR 500 crore in the fiscal year 2023–24.

Despite rapid expansion, GPS Renewables has demonstrated financial strength, reporting an EBITDA of INR 17.5 crore with a PAT of INR 11 crore in FY22–23. The company, which increased its employee strength from 72 to 175, currently employs 356 full-time professionals.

Mainak Chakraborty, CEO and Co-Founder of GPS Renewables, expressed the company's commitment to addressing India's waste-to-bioenergy challenge. He stated, "From inception to date, we have focused on building a profitable solution to tackle India’s waste-to-bioenergy challenge. Today, our company has an order book of INR 2,000 crore from leading conglomerates in the country."

Looking ahead, GPS Renewables plans to advance its clean energy initiatives through its climate infrastructure platform, GPSR Arya, with a joint venture with Indian Oil Corporation (IOCL) for compressed biogas projects.

Additionally, the company's research and development arm, GPSR Aavishkar, is engaged in cutting-edge research on anaerobic fungi for lignocellulosic biomass and multi-feedstock-compliant digester technologies.

In line with the evolving energy landscape, GPS Renewables is also investing in the development of technologies and projects to supply sustainable aviation fuel.

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