Noida-based firm to invest ₹15,000cr in green diesel, CBG pumps
What's the story
NexGen Energia, a Noida-based green energy solutions company, has unveiled plans to invest ₹15,000 crore over the next decade.
The investment will be used to set up 5,000 green diesel and compressed biogas (CBG) pumps across India.
This announcement follows the inauguration of its first CBG pump in Mau district, Uttar Pradesh, marking the company's entry into the clean energy sector.
Expansion plans
Commitment to clean energy and economic growth
Chairperson Piyush Dwivedi has confirmed the firm's commitment to clean energy extends beyond its initial CBG pump.
The firm plans to open green diesel and CBG pumps across India in several phases over the next decade.
This initiative is expected to provide employment for over 10 lakh people.
Dwivedi stated that this significant expansion will attract substantial investment into the Indian economy, spurring economic growth.
Sustainable mobility
Vision for sustainable transportation in India
Beyond providing clean fuel, NexGen Energia is actively working toward building a robust infrastructure for sustainable transportation in India.
Dwivedi stated that the firm's goal is to make India self-reliant in the green energy sector, thereby reducing fuel imports by about 30%.
Earlier this year, Nexgen Energia's e-mobility arm NGE launched a range of two-wheeler electric vehicles (EVs), with prices starting at ₹36,999.
Future plans include the introduction of electric trucks and buses.
Information
NexGen Energia's sales and employment goals
NexGen Energia aims to achieve sales of over ₹500 crore this financial year (FY) through its e-mobility arm NGE. The company plans to establish over 500 dealers and distributors, which is expected to generate roughly 50,000 direct and indirect employment opportunities in the EV sector.