By Prateek Pyne
The battle between two of Asia's biggest business tycoons looks set to get heated again, with both billionaires attempting to establish themselves in the renewable energy sector. The Adani and Reliance Group plan to invest Rs 500–600 crores and set up compressed biogas (CBG) plants across the Indian subcontinent.
Renewed aggressive efforts from the government to switch to greener sources of energy by increasing the availability and production of clean energy and the attractive price of CBG have made the segment highly lucrative to private players.
Senior executives have mentioned that Gautam Adani-led Adani New Industries (ANIL) plans to set up 40-million tonne per annum plants in Uttar Pradesh and Gujarat, while Reliance Industries is still in the process of formalizing the two locations.