Adani Total Gas stock jumps 4% as production at Barsana biogas plant kicks off

Shares of Adani Total Gas jumped over 4 percent on April 1, a day after the company informed that its wholly-owned subsidiary Adani Total Energies Biomass Limited(ATBL) has commissioned operations at phase 1 of its Barsana Biogas Plant, located in the Mathura district of Uttar Pradesh.

The Barsana Biogas Project has three project phases and would attain the overall capacity of 600 tons per day (TPD) of feedstock, generating over 42 TPD of Compressed Bio Gas (CBG) and 217 TPD of organic fertiliser upon full commissioning, Adani Total Gas said.

“This plant will be India’s largest agri waste-based bio-CNG plant upon reaching full design capacity at phase-3,” the company added.

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The cost for all three project phases for the Barsana Biogas plant would be in excess of Rs 200 crore. This is ATBL’s first CBG production facility. In addition to producing CBG, the plant yields organic fertiliser.

“By utilizing advanced anaerobic digestion technology, the plant converts organic materials into renewable biogas, significantly reducing greenhouse gas emissions and reliance on fossil fuels,” the company said.

Meanwhile, in the LNG segment, Adani Total Gas is developing its first LNG Retail Outlet in Dahej, Gujarat, with plans to establish an LNG station network at strategic locations across India. The outlet is expected to be commissioned by July 2024, Ventura Securities said in a recent note.

In the EV segment, an additional 1050+ EV charging points are under construction, strategically distributed across various cities and partnered with multiple stakeholders. The company plans to take the number of cities to 20, and to expand the footprint to 130 cities.

Also Read | Adani Group eyes $1 billion in foreign currency bonds for expansion

At 10:17 am on April 1, Adani Total Gas shares were trading at Rs 969.00 on the National Stock Exchange (NSE), up 4.5 percent from the previous close. In the last six months, the stock has rallied nearly 60 percent, outperforming Nifty 50 which has risen 15 percent during this period.

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