NexGen Energia to Invest Rs 15,000 Cr in 5,000 Green Fuel Pumps

Noida, Jul 7 (PTI) Green energy solutions company NexGen Energia plans a Rs 15,000 crore investment to open 5,000 green diesel and compressed biogas (CBG) pumps in the country over the next 10 years.

The Noida-based company recently inaugurated its first CBG pump in Mau district in Uttar Pradesh, marking its entry to execute engineering, procurement, and construction (EPC) services in the clean energy sector.

"The company's commitment to clean energy goes far beyond this single pump. Plans are afoot to open a total of 5,000 green diesel and CBG pumps across the country in multiple phases over the next 10 years, with each pump costing around Rs 3 crore. In this manner, we are set to invest Rs 15,000 crore in the green energy sector," NexGen Energia Chairman Piyush Dwivedi told PTI.

"Furthermore, this initiative will create approximately 5,000 new entrepreneurs and provide direct and indirect employment to over 10 lakh people. Our goal is to make India self-reliant in the green energy sector, thereby reducing fuel imports by about 30 per cent," Dwivedi said.

He said the company's vision goes beyond merely providing clean fuel as it is actively working to build a robust infrastructure to facilitate a sustainable future for transportation in India.

"This significant expansion is expected to attract a substantial investment into the Indian economy, which will spur significant economic growth," the chairman added.

Earlier in April, Nexgen Energia's e-mobility arm NGE launched its affordable fleet of two-wheeler electric vehicles (EVs), with prices starting at Rs 36,999.

The company had said it aims to cross sales of more than Rs 500 crore this financial year and set up more than 500 dealers and distributors while generating around 50,000 direct and indirect employment opportunities in the EV sector.

There are plans to introduce electric trucks and buses, which will further strengthen the company's commitment to sustainable mobility solutions, it added.