HDFC Bank funds waste to energy plant in Indore

HDFC Bank has partnered with Indore Clean Energy Private Limited (ICEPL) to create a 550-tonne-per-day municipal solid waste (MSW) to compressed biogas (CBG) plant, Asia’s largest Bio-CNG plant.

Green Growth Equity Fund (GGEF), India’s largest climate impact fund, is promoting Indore Clean Energy Pvt Ltd (ICEPL), which has anchor investors like NIIF and the UK government.

Prime Minister Narendra Modi has previously dedicated the municipal solid waste-based Gobar-Dhan plant to the inhabitants of Indore City, Madhya Pradesh, on February 19, 2021.

The plant can handle 550 tonnes of wet organic waste per day and create 17,000 kg of CNG and 100 tonnes of organic compost per day.

The plant is planned to process 50% of municipal trash generated in Indore City and convert it to 100% green products, making it the largest waste to energy project supported by HDFC Bank under its ESG commitments (biogas and manure).