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MNRE launches loan interest subvention scheme for waste-to-energy projects

On the occasion of World Biofuel Day, MNRE, in association with UNIDO & GEF, launched the loan interest subvention scheme for the demonstration of innovative industrial organic waste to energy Biomethanation projects and business models
MNRE launches loan interest subvention scheme for waste-to-energy projects
MNRE launches loan interest subvention scheme for waste-to-energy projects

New Delhi: The Ministry of New & Renewable Energy (MNRE), in association with UNIDO (United Nations Industrial Development Organization) and GEF (Global Environment Facility), has launched the loan interest subvention scheme for the demonstration of innovative industrial organic waste-to-energy Biomethanation projects and business models. A GIS-based inventory tool of organic waste streams was also unveiled.

UNIDO and MNRE launched the Global Environment Facility (GEF) funded loan interest subvention scheme that provides financial assistance to innovative waste-to-energy Biomethanation projects and business models. The industrial organic waste-to-energy bio-methanation projects are generally capital intensive and financially sensitive to both operating costs, including waste availability, and revenue, particularly biogas yield and its utilisation scenario. Innovations in such projects seek to improve overall energy output thereby minimising the cost of energy generation but may lead to an increase in the initial project cost at the establishment stage. However, it does increase revenue and reduce operating costs over the project’s lifetime. The loan scheme provides financial assistance to beneficiaries to reduce the financial burden on account of interest on the loan component faced by such demonstration projects.

A GIS-based inventory tool of organic waste streams developed under the GEF-MNRE-UNIDO project was also launched during the webinar. The tool provides district-level estimates of available urban and industrial organic wastes and their energy generation potential across India. The GIS tool will enable SME’s and project developers to set up new waste-to-energy projects and may facilitate the rapid growth of Biomethanation in the waste-to-energy sector in the country.

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A webinar held on the occasion also showcased success stories of Biomethanation projects in India and was followed by a panel discussion on ‘Innovations in Biomethanation technology and business models – Key potential accelerator of waste-to-energy sector growth in India’ and sharing of experience on technology, business models, policies and regulatory framework and project financing to foster SME’s contribution in the sector in India.

At the event, Dr René Van Berkel, UNIDO Representative, Regional Office India, gave the welcome address. MNRE's Joint Secretary Dinesh Dayanand Jagdale gave the opening remarks and launched the Financial Support Scheme and the GIS tool for mapping organic waste availability. IREDA CMD Pradip Kumar Das presented keynotes.

Subsequently, UNIDO's National Technical Expert Nikhil Khot gave a presentation on loan interest subvention scheme for the demonstration of innovative bio-methanation technologies and business models.

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