German Export Finance bank has provided 38 million euros in equity and debt financing to CEF Group, an Indian cleantech company focused on converting waste into compressed biogas, the company said on Friday.
The funding will support the construction of two compressed biogas (CBG) plants as part of CEF Group's broader plan to build 22 such facilities across India.
The company converts agricultural, agro-industrial and municipal waste into clean fuel while promoting circular economy initiatives.
Founded in 2018, CEF Group operates under India's SATAT (Sustainable Alternative Towards Affordable Transportation) scheme, which aims to promote CBG as a clean alternative to fossil fuels through private-sector participation.
The company currently has three projects in advanced execution stages - two municipal solid waste-based plants in Jammu and Ahmedabad, and one facility in Western Uttar Pradesh that processes press mud, a sugar industry byproduct.
"We are not just building biogas plants, we are empowering rural economies, advancing energy independence, and driving India's transition to a truly circular economy," CEF Group CEO and Founder Maninder Singh said in a statement.
The SATAT initiative, launched by the government, seeks to convert agricultural and municipal waste into energy while creating new revenue streams for rural economies. CEF Group processes thousands of tonnes of organic waste and municipal solid waste annually.
The investment represents a significant boost for India's renewable energy sector as the country seeks to reduce dependence on fossil fuels and manage its growing waste challenges.
