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Cabinet Committee on Economic Affairs approved winding up of CHBL & ICBL

Cabinet Committee on Economic Affairs approved winding up of CHBL & ICBL


The Cabinet Committee on Economic Aöairs (CCEA) on 23 March 2017 gave is approval for closure/winding up of CREDA HPCL Biofuel Ltd (CHBL) and IndianOil -Chhattisgarh Renewable Energy Development Agency (CREDA) Biofuels Limited (ICBL).

As of now,
• All oôce assets of CHBL and ICBL have been disposed
• No manpower exits on the rolls of CHBL and ICBL.
• There is no ñnancial outgo from the Government of
India and lands have been returned to CREDA.
• All liabilities have also been settled.
Hence, closure of CHBL and ICBL would result in saving unfruitful expenditure on statutory compliance.

• Joint Ventures (JVs’) CREDA HPCL Biofuel Ltd (CHBL) and IndianOil-CREDA Biofuels Limited (ICBL)
were formed for carrying out energy crop (Jatropha) plantation and production of bio-diesel in
2008 and 2009 respectively.
• The CREDA, an arm of Chhattisgarh, had provided wasteland to CHBL and ICBL through Land
Use Agreement (LUA) for plantation of Jatropha.
• Due to various constraints such as very poor seed yield, limited availability of wasteland and high
plantation maintenance cost the project became unviable and Jatropha plantation activities were

• Chhattisgarh State Renewable Energy Development Agency (CREDA) was constituted on 25 May
2001 under the Department of Energy, Government of Chhattisgarh.
• It implements various schemes pertaining to renewable energy sources and energy conservation
• It is registered under the Society Act, 1973 with the controlling body being Energy Department,
Government of Chhattisgarh.
• CREDA was established as the nodal agency for the development and promotion of nonconventional
and renewable sources of energy.
• Most of the schemes like National Programme on Bio-gas Development, Solar Thermal, Solar
Photo Voltaic, Remote Village Electriñcation and Biomass Gasiñer, which are sponsored by the
Union Ministry of Non-Conventional and Renewable Energy Sources (MNRE) are implemented by
the CREDA.
• Since its inception, it has also undertaken extensive human resource development activities in
the ñeld of renewable energy management.

Anand Gupta Editor - EQ Int'l Media Network


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