NexGen Energia to Invest Rs 15,000 Crore in Green Diesel and CBG Pumps
NexGen Energia, a green energy solutions provider, is set to invest Rs 15,000 crore over the next decade to establish 5,000 green diesel and compressed biogas (CBG) pumps across India. The Noida-based company recently launched its inaugural CBG pump in Mau district, Uttar Pradesh, signaling the beginning of its extensive plan to deliver engineering, procurement, and construction (EPC) services in the clean energy sector.
According to Piyush Dwivedi, Chairman of NexGen Energia, the initiative aims to deploy these 5,000 pumps in various phases, with each installation costing around Rs 3 crore. "Our commitment extends beyond this single pump. We are poised to invest heavily to ensure the proliferation of green energy solutions, fostering a network of clean fuel infrastructure", Dwivedi told.
This ambitious venture is expected to generate significant employment, creating around 5,000 new entrepreneurs and providing jobs to over 10 lakh individuals both directly and indirectly. Dwivedi emphasized that this project is a step towards reducing India's dependency on fuel imports by approximately 30%, thereby bolstering the nation’s self-reliance in the green energy sector.
Beyond merely setting up fuel pumps, NexGen Energia is focused on developing a comprehensive infrastructure that supports sustainable transportation solutions across India. The planned expansion is anticipated to attract considerable investment, driving economic growth in the process.
In addition to its efforts in the green fuel sector, NexGen Energia is making strides in e-mobility. In April, the company’s subsidiary, NGE, launched a cost-effective range of two-wheeler electric vehicles (EVs) priced from Rs 36,999. The company aims to achieve sales exceeding Rs 500 crore in the current financial year, establish over 500 dealerships, and create around 50,000 employment opportunities within the EV sector.
Future plans include the introduction of electric trucks and buses, underscoring NexGen Energia's dedication to advancing sustainable mobility solutions in India.