German Export Finance Bank has committed 38 million euro (around Rs 343 crore) in equity and debt to Indian cleantech company CEF Group, which converts waste into compressed biogas (CBG).

The funding will aid in constructing two CBG plants under CEF’s larger plan to develop 22 such facilities nationwide. Operating under the government’s Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, CEF transforms agricultural, agro-industrial, and municipal waste into clean fuel, promoting a circular economy.

Founded in 2018, CEF currently has three advanced-stage projects — municipal solid waste plants in Jammu and Ahmedabad, and a Western Uttar Pradesh facility processing press mud, a sugar industry byproduct. The SATAT initiative aims to reduce fossil fuel dependence, generate rural revenue streams, and address waste management challenges. The German funding represents a major push for India’s renewable energy aims and strengthen public-private cooperation in sustainable infrastructure.