REnergy Dynamics (RED), a company working in India’s bioenergy sector, has announced plans to invest Rs 500 crore in Uttar Pradesh to develop compressed biogas (CBG) projects.
The company has signed a memorandum of understanding with the Uttar Pradesh government at the World Economic Forum Annual Meeting in Davos. The agreement focuses on setting up CBG projects across the state by creating infrastructure that supports rural livelihoods, improves the use of waste, and strengthens long-term energy supply.
The initiative is in line with key government programmes such as SATAT, which promotes alternative fuels for transport, and India’s Net Zero 2070 goal. The collaboration reflects a shared aim of promoting cleaner energy and sustainable development.
RED functions as an integrated platform that supports the planning, financing and execution of bioenergy projects. The company said its work is driven by the need to move towards more sustainable ways of living in response to the ongoing climate challenge.
The World Economic Forum’s annual meeting began on Monday in the Swiss town of Davos and has brought together global leaders from politics, business, academia and civil society for a five-day event. Discussions are focused on global challenges and future priorities, with the main sessions running from January 19 to January 23.
