MUMBAI (India CSR): Bajaj Hindusthan Sugar Limited (Bajaj Sugar) and EverEnviro Private Limited have joined hands to set up CBG (compressed biogas) plants in Uttar Pradesh.
Bajaj Hindusthan Sugar presently generates around 500,000 M.T. of press mud annually from its 14 operational sugar mills which can potentially help set up CBG plants with a total capacity of 70 M.T. per day.
Bajaj Sugar is Asia’s largest owner of crushing capacity and globally one of the largest.
Promoting and encouraging the setting up of CBG plants
On the development, Bajaj Group Chairman, Kushagra Bajaj’s office said, “Bajaj Group has been in business for more than 90 years now and the focus has always been on nation-building. The Government of India and the Government of Uttar Pradesh has been promoting and encouraging the setting up of CBG plants and the production of CBG as renewable gas in line with the country’s objective to reduce dependency on fossil fuels. CBG is an eco-friendly fuel derived from various waste streams. Press-mud from sugar mills is one such main by-product that Bajaj Sugar aims to utilize to produce green energy.”
EverEnviro Operations
EverEnviro is India’s largest CBG player as of date with projects already commissioned and operational and projects under commissioning in M.P., U.P., Delhi and Punjab based on municipal organic waste, agro waste from paddy fields and residue waste from sugarcane crushing.
Significantly boost the CBG production capacity
“Our partnership with Bajaj Hindusthan Sugar Limited marks a significant milestone in our journey towards sustainable energy solutions. Through this alliance, EverEnviro will leverage its expertise to develop, operate, and scale up CBG projects across Uttar Pradesh. The steady supply of press mud from Bajaj Hindusthan’s sugar mills will significantly boost the CBG production capacity of our plants. Furthermore, the fermented organic manure produced as a byproduct of CBG will promote regenerative agriculture, enhancing soil health and fertility in the region. This initiative aligns perfectly with our nation’s objective of reducing fossil fuel dependency and promoting environmental sustainability”, said Mahesh Girdhar, MD and CEO, EverEnviro Resource Management Pvt Ltd.
Under the bilateral arrangement with EverEnviro, Bajaj Sugar will have the option to either sell press-mud at predetermined long-term prices and / or take equity in the CBG plant project alongside EverEnviro.
Leveraging on its experience of operating in Uttar Pradesh, Bajaj Sugar will overall pursue a mixed strategy to realize partial value for its press-mud as fixed value in cash and partial value by way of taking equity in the CBG project. This starts a new chapter in Bajaj Sugar’s growth story, adding another green fuel to our portfolio (in addition to Ethanol), as part of a sustainable revenue model.
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Overview of Bajaj Hindusthan Sugar Limited
Bajaj Hindusthan Sugar Limited, popularly known as ‘Bajaj Sugar,’ stands as a titan in the Indian sugar and ethanol production arena. Boasting the country’s largest installed production capacity in these sectors, the company operates through a vast network of 14 sugar mills and 6 distilleries, all strategically situated in the fertile lands of Uttar Pradesh.
This impressive infrastructure supports an enormous daily sugarcane crushing capacity of 136,000 tonnes and a distillation capacity that reaches 800 kilolitres per day. Bajaj Sugar is not just a name; it’s a massive employment engine, providing livelihoods to approximately 10,000 individuals directly. The company’s operations significantly impact the agricultural sector, with nearly half a million farmers engaged in supplying sugarcane, making it a pivotal player in the region’s economic fabric.
Furthermore, Bajaj Sugar is at the forefront of ethanol production, a sector witnessing rapid growth due to the increasing demand for green fuels. As India strides towards a more sustainable energy future, Bajaj Sugar’s role in manufacturing ethanol, a cleaner alternative to fossil fuels, positions it as a key contributor to the nation’s energy transition efforts.
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Introduction to the Bajaj Group
The Bajaj Group, the conglomerate behind Bajaj Sugar, is a beacon of diversified success in India’s corporate landscape. With a valuation of $2.5 billion, the group has entrenched itself in several critical industries, including Sugar, Ethanol, Power, and Fast-Moving Consumer Goods (FMCG). Under the visionary leadership of Kushagra Bajaj, its Promoter and Chairman, the Bajaj Group has cultivated an impressive asset base exceeding $5 billion. The conglomerate’s expansive operations underscore its commitment to economic growth and employment, with a workforce surpassing 12,000 employees.
This conglomerate is not merely a business entity; it’s a dynamic ecosystem that fosters growth, innovation, and sustainability across its ventures. As it continues to expand its footprint in key areas of the Indian economy, the Bajaj Group remains a pivotal force in shaping the country’s industrial and social landscapes.
(India CSR)
