India Biomass Market Size & Share to See Modest Growth Through 2026

Schemes Supporting Biomass Cogeneration Projects Generate Export Opportunities for Companies

The launch of new schemes is anticipated to generate incremental opportunities for companies in the India biomass market. For instance, the Ministry of New and Renewable Energy (MNRE) in India announced a scheme to support biomass-based cogeneration in sugar mills and other industries. It is found that India has the capability to generate several thousands of megawatts of renewable energy from biomass available in bagasse cogeneration from sugar mills. Moreover, the Indian Government’s financial assistance is projected to play an instrumental role for energy generation through biomass cogeneration projects.

With the help of the Government’s financial aid, companies in the India biomass market are investing in their exports capacities to tap into revenue opportunities. Moreover, surplus biomass availability, especially from the agriculture sector, is another key driver that is fueling market growth. Launch of new schemes in the support of biomass cogeneration projects is playing a vital role to leverage capacity additions in small biogas plants located in remote and rural parts of India.

Investments by Foreign Green Energy Companies Assure Reliable Power Supply for Indian Businesses

The India biomass market is attracting investments from green energy companies outside of India to capitalize on value-grab opportunities. For instance, in October 2019, Bloom Energy-a provider of sustainable and cost-efficient on-site electricity for organizations announced a joint effort with EnergyPower, a zero carbon and net zero emissions technology company to deploy its first-of-its-kind commercial scale on-site project to power organizations in India. There is a growing demand for integrated solutions for the supply of clean and reliable power to businesses in India.

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Novel agricultural and municipal waste digesters are being combined with the solid oxide fuel cell technology to deploy reliable and renewable power sources to customers. Such technological advancements are powering growth of the India biomass market, which is estimated to reach a value of ~US$ 4 Bn by the end of 2030. Renewable power generation using biomass has significantly reduced methane emissions, which is relatively more harmful to the atmosphere as compared to CO2 emissions.

Storage of Biomass Plays Instrumental Role for Maintaining Strong Supply Chains

Customers in the India biomass market are assured continuous energy flow through biomass energy generation, unlike wind and solar energy, which is subject to energy fluctuations. However, poor supply chains are some of the biggest hurdles that are inhibiting market growth. This can be attributed to biomass availability is not certain during the year. For instance, biomass from agriculture is available only after the harvesting period, which indicates that the raw material can only last up to a few months. Hence, companies in the India biomass market are procuring and storing the required volume of biomass to avoid supply chain fluctuations.

Among all agriculture-intensive states in India, companies in Uttar Pradesh are utilizing their biomass up to its full potential, due to the abundance of sugarcane industries. The India biomass market is flourishing due to increased availability of co-generation power plants in North Indian states, where the market is estimated to expand at a CAGR of ~8% during the forecast period.

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Nationwide Lockdown Curtails Energy Generation Activities Until Coronavirus Pandemic Lasts

The Punjab State Transmission Corporation Limited (PSTCL) has recently announced the cutback of renewable power generation until coronavirus (COVID-19) outbreak subsides. The Government is imposing the force majeure clause for renewable energy generators since continuation power generation could significantly impact supply chains. Apart from business activities in the India biomass market, other industries related to biomass generation are also experiencing a curtailment in various business processes. Moreover, lack of free flow in public transport is another restraining factor that has caused a major slowdown in the market landscape.

Apart from biomass, energy generators of solar and wind have also been forced to shut down their business activities. Cogen power, biogas, and mini hydel projects are experiencing a halt in revenue generation. As such, energy generators are positively responding to regulations issues under the nationwide lockdown.