Cleantech company accelerates SATAT-aligned mission to convert municipal and agri-waste into renewable fuel and organic manure

In a major boost to India’s bioenergy and circular economy ambitions, CEF Group, a homegrown cleantech company specializing in Compressed Biogas (CBG) and waste valorization, has secured €38 million in debt funding from the German Export Finance Bank to develop its first two CBG plants. Alongside this, the company has also closed equity funding from undisclosed investors as part of a broader effort to build 22 CBG facilities across India, with a total investment outlay of Rs 2,300 crore.

Founded with the mission to transform India’s waste into wealth, CEF Group is one of the leading private-sector players aligned with the Government of India’s SATAT (Sustainable Alternative Towards Affordable Transportation) scheme. The SATAT initiative, launched in 2018, aims to promote CBG as a clean, affordable alternative to fossil fuels while unlocking new rural revenue streams and addressing the country’s growing solid waste crisis.

Maninder Singh, Founder and CEO of CEF Group, said, “At CEF Group, we believe that India’s future lies in turning its waste into wealth. This milestone investment will enable us to fast-track the development of 22 CBG plants across the country, converting municipal and agricultural waste into clean, renewable energy. As a homegrown cleantech company aligned with the SATAT vision, we are not just building biogas plants—we are empowering rural economies, advancing energy independence, and driving India’s transition to a truly circular economy.”

Three projects are already in advanced stages of execution. These include two municipal solid waste (MSW)-based plants in Jammu and Ahmedabad, and one press mud-based facility in Western Uttar Pradesh that leverages by-products from the sugar industry. Together, these facilities will be able to process up to 850 metric tonnes of MSW per day. The resulting compressed biogas (CBG) will serve as a renewable substitute for diesel, petrol, and natural gas, while co-products like organic manure and refuse-derived fuel (RDF) will further enhance circularity and agricultural value.

The deal was facilitated by Rieckermann, a Germany-based industrial engineering and trade finance company, through export credit agency (ECA)-covered financing. Rieckermann’s Trade Finance Swiss GmbH has been appointed as project manager and general supplier, responsible for engineering, equipment procurement, and long-term financing support. Implementation contracts for CEF Jammu Energy Private Limited and CEF Ahmedabad Cleaneffentech Private Limited have already been executed, marking a significant step forward in CEF’s infrastructure expansion.

CEF Group’s strategic investment is being seen as a strong vote of confidence in India’s bioenergy potential and in the SATAT framework’s ability to catalyze climate-resilient infrastructure. By channeling both private equity and international debt into critical green energy assets, the company is positioning itself at the forefront of India’s waste-to-energy transition. The rollout of 22 CBG plants is expected not only to address mounting urban and rural waste challenges, but also to generate clean fuel, enhance soil health, and create economic opportunities across India’s agrarian heartlands.