Industry Outlook · Company of the Year — Renewable Energy Solutions 2026

The pioneer of India's circular energy economy — a company of many firsts.

Topaz Solar leads where India's bioenergy sector follows: Tamil Nadu's first Green Hydrogen project at Veppur, India's first weed-to-Bioethanol-cum-Bioplastics biorefinery at Thoothukudi, and the world-first Water Hyacinth BioCBG complex at Bokakhat — with four further locations planned across Assam. Guided by Chairman & Chief Mentor Ganesan Natarajan, Topaz Solar develops these projects on a commercial basis, but its mainspring is contribution to this country's sustainability: every plant removes a weed, a waste stream or an import bill from India's ledger.

India's largest Green Hydrogen cum Dry Ice plant — Veppur World-first water hyacinth + bamboo BioCBG — Bokakhat India's first BioCBG CO₂-to-Dry-Ice capture MNRE 'Flagship Project' — Palani (for Yogan Green)
₹1,643 Cr+
Portfolio — ₹1,453 Cr across five Tamil Nadu projects + ₹190 Cr Bokakhat, Assam
7
Verticals: Biogas · CBG · Green Hydrogen · Dry Ice · Bio-Fertilizers · Bioethanol · Bioplastics
1,100+
Direct jobs in Tamil Nadu alone, plus 3,000+ indirect in agriculture & logistics
10,000 t
Annual Green Hydrogen production targeted over the coming three years
The leadership ledger

Largest. First. Only.

Every flagship in the Topaz Solar portfolio sets a national benchmark — and one may set a global one.

Largest

India's largest Green Hydrogen cum Cryogenic Dry Ice plant — Veppur, Tamil Nadu

The country's largest biogenic Green Hydrogen cum Cryogenic Dry Ice complex and India's first commercial-scale Green Hydrogen project — pairing 6.2 TPD of green hydrogen with 31.8 TPD of biogenic dry ice from a single integrated site.

World first

First large-scale BioCBG cum Cryogenic Dry Ice plant on water hyacinth & bamboo — Bokakhat, Assam

The first large-scale plant anywhere in India to run a BioCBG cum Cryogenic Dry Ice complex on water hyacinth and bamboo as feedstock — processing 1,200 TPD of the invasive weed. At this magnitude, it is likely the largest plant in the world using water hyacinth as feedstock.

India first

India's first integrated weed-to-Bioethanol-cum-Bioplastics biorefinery — Thoothukudi SIPCOT

Yogan Sustainable Fuels converts Prosopis Juliflora (Seemai Karuvelam) — the invasive tree the Madras High Court has mandated for eradication — into fuel-grade Bioethanol, PLA Bioplastics, Cryogenic Dry Ice and Lignin Bio-Coal in one zero-waste ₹140 Cr complex delivering a 51.4% IRR.

India first

First company in India to capture CO₂ from a BioCBG plant and convert it into Cryogenic Dry Ice

Where the industry vents CO₂ separated during biogas upgrading, Topaz Solar captures it and converts it into marketable Cryogenic Dry Ice — turning an emission into a product for pharma, fisheries and food cold chains, and making every BioCBG plant carbon-smarter by design.

From waste streams to value streams

One feedstock, multiple forms of value

Innovation at Topaz Solar is less about adopting technology for its own sake and more about connecting processes that are traditionally treated separately. Integrated projects extract multiple forms of value from the same feedstock — a more circular, resource-efficient model where emissions become products.

Compressed Biogas (CBG)Clean fuel from agricultural residue and invasive biomass, with assured offtake under GOBARdhan.
Green HydrogenBiogenic hydrogen from biogas — the Veppur initiative is positioned as India's first commercial-scale Green Hydrogen project.
Cryogenic Dry IceCO₂ separated during biogas upgrading is recovered — not vented — and converted into a marketable product for fisheries, pharma and food cold chains.
Bio FertiliserDigestate returns to farmland as organic fertiliser, closing the nutrient loop within the integrated model.
Bio EthanolFuture projects extend the same-feedstock concept into ethanol production.
BioplasticsInvasive weeds across Tamil Nadu and Assam as a base for bioplastics — the roadmap's furthest frontier.

"Topaz Solar was established with a clear vision of contributing to India's energy transformation through projects that are commercially sustainable, environmentally responsible and socially relevant."

— Ganesan Natarajan, Chairman, Topaz Solar
The portfolio · Tamil Nadu & Assam

₹1,643 Crore of India-first green infrastructure across two states

A ₹1,453 Crore, five-project investment proposal has been submitted to the Hon'ble Chief Minister of Tamil Nadu and Guidance Tamil Nadu — spanning Biogas, Green Hydrogen, Cryogenic Dry Ice, CBG, Organic Bio-Fertilizers, Bioethanol and Bioplastics through dedicated SPVs across four strategic locations. In Assam, the Water Hyacinth BioCBG programme begins at Bokakhat and extends to four further locations. Commercial in structure; national sustainability in purpose.

Three spotlights

Spotlight · Thoothukudi SIPCOT Phase IIWeed → Bioethanol cum Bioplastics →

India's first integrated Bioethanol–Bioplastics–Dry Ice biorefinery (Yogan Sustainable Fuels Pvt. Ltd., ₹140 Cr). Prosopis Juliflora — the invasive Seemai Karuvelam whose eradication the Madras High Court has mandated — becomes 10 TPD fuel-grade Bioethanol (IS 15464, supplied to OMCs), 10 TPD CIPET-certified PLA Bioplastics, 8.5 TPD Cryogenic Dry Ice for Thoothukudi's seafood export cold chains, and 13 TPD Lignin Bio-Coal powering the on-site 1.5 MW boiler. Five revenue lines, ₹98.16 Cr gross revenue, 51.4% IRR, 1.7-year payback, 68.1% EBITDA margin — NSE Emerge IPO ready. A weed the state pays to remove becomes an export industry beside India's second-largest container port.

Spotlight · Veppur, VirudhachalamFirst Green Hydrogen project →

Tamil Nadu's first — and India's largest biogenic — Green Hydrogen cum Cryogenic Dry Ice plant (₹343 Cr, two phases). Co-located with Thirumavadi Bioenergy for synergistic feedstock and shared infrastructure, fed by 500 acres of Giant King Napier Grass: 20 TPD Biogas, 6 TPD Green Hydrogen and 32 TPD Cryogenic Dry Ice, with offtake secured from Mega Engineering (methane LOI) and Sicgil (dry ice LOI + agreement). 150–180 direct jobs, and the CO₂-to-dry-ice capture that defines every Topaz Solar plant.

Spotlight · Bokakhat + 4 locations, AssamWater Hyacinth BioCBG programme →

The world-first Water Hyacinth BioCBG cum Cryogenic Dry Ice complex (₹190 Cr) — and likely the largest plant anywhere on this feedstock. 1,200 TPD of the invasive weed plus bamboo becomes CBG, dry ice, FOM and LFOM alongside Numaligarh Refinery, restoring the Kaziranga buffer beels and 17,500 fishing livelihoods. Bokakhat is the anchor: the programme extends to four further locations across Assam, on the path to a 50-unit statewide replication.

The full Tamil Nadu proposal — five projects, four locations

Project 1 · Cuddalore District · ₹343 CrVeppur, Virudhachalam →

Integrated Biogas + Green Hydrogen + Dry Ice facility — 20 TPD biogas, 6 TPD GH₂, 32 TPD dry ice on 500 acres of Napier Grass. Phase 1 ₹171 Cr, Phase 2 ₹172 Cr. 150–180 direct jobs.

Project 2 · Dindigul District · ₹292 CrPalani, Andipatti →

MNRE 'Flagship Project' — 13.2 TPD biogas, 3.2 TPD GH₂ (Phase 2), 24 TPD dry ice from 500 acres of self-cultivated Napier Grass. AIG Direct LLC (USA) Term Sheet signed for the full two phases; dual offtake with Sicgil and Mega Engineering. Phase 1 ₹162 Cr, Phase 2 ₹130 Cr.

Project 3 · Ramanathapuram District · ₹316 CrKamudhi →

Adjacent to the 648 MW Kamudhi Solar Park — captive solar at ₹2.0–2.5/kWh powers 15 TPD CBG, 4 TPD GH₂ (Phase 2) and 28 TPD dry ice, with hydrogen export access via Tuticorin Port (~80 km). When operational, the largest integrated biogas-to-hydrogen-to-dry-ice facility in India. 180–220 direct jobs.

Project 4 · Veppur / Cuddalore · ₹362 CrIndia's Largest Bio-Fertilizer Plant →

Yogan Bio-Fertilizers Pvt. Ltd. — 260 TPD certified Organic DAP plus 2,00,000 bottles of Nano Chelated Organic Liquid Urea. Substitutes ₹550 Cr/year in chemical DAP imports, saves the Government ₹237–285 Cr/year in NBS subsidies, and serves 60 lakh+ Tamil Nadu farming households. 300–350 direct jobs.

Project 5 · Thoothukudi SIPCOT · ₹140 CrYogan Sustainable Fuels →

The weed-to-Bioethanol-cum-Bioplastics biorefinery spotlighted above — Prosopis Juliflora at ₹6,500/MT into four product lines on a 5-acre SIPCOT Phase II plot, with pipeline access to the 60 MLD Mullakadu Desalination Plant and VO Chidambaranar Port at its doorstep. 58 plant + 130 harvesting jobs.

The Assam programme — Bokakhat and beyond

Assam · Golaghat District · ₹190 CrBokakhat Water Hyacinth BioCBG Complex →

The anchor plant — 1,200 TPD water hyacinth + bamboo into four LOI-backed streams (₹199.98 Cr/yr), presented to the Hon'ble Chief Minister of Assam and developed alongside NRL. Four further Assam locations follow in the Bio Refinery initiative, funded from project accruals toward a 50-unit statewide replication — the path to India's first carbon-positive state.

Near future · Veppur / Palani / Kamudhi2G Bioethanol expansion →

Yogan Sustainable Fuels will extend Second-Generation cellulosic bioethanol (50–100 KLPD, scalable to 200 KLPD) across the Napier Grass clusters — guaranteed OMC offtake at ₹65.61/litre under the Ethanol Blending Programme, eligible for ₹150 Cr capital subsidy under PM JI-VAN Yojana, replacing imported petrol litre for litre.

Converting policy momentum into execution

The GOBARdhan–National Circular Bioenergy Scheme tailwind

The Union Cabinet's approval of the scheme in August 2026 provides a significant policy push to India's circular bioenergy ecosystem — and it closely complements projects Topaz Solar already has under development.

₹23,731 Cr
Scheme outlay through FY 2035-36
Assured offtake
Through City Gas Distribution networks with an administered CBG price
3% → 5%
CBG blending targets, FY 2026-27 to FY 2028-29 — growing demand certainty
Capital assistance
For eligible projects under the framework

"The company's focus on agricultural residue and invasive biomass also strengthens its alignment with India's broader self-reliance objectives by developing domestic alternatives to imported energy resources and equipment."

— Ganesan Natarajan, Chairman, Topaz Solar

Scaling a circular energy future

10,000 t/yrAnnual Green Hydrogen production targeted through biogas projects over the coming three years.
CBG expansionGreater capacity and deeper Bio Fertiliser integration, with disciplined execution across five simultaneous CBG builds — for plant longevity, investor confidence and long-term customer value.
New frontiersBioethanol and Bioplastics from invasive weeds — live at Thoothukudi with Prosopis Juliflora, expanding to the Napier clusters and Assam's water hyacinth — from individual projects to a circular bioenergy platform.
Recognition & news · August 2026

Proposals before two Chief Ministers, and a national honour

The ₹1,453 Crore five-project Tamil Nadu investment proposal has been submitted to the Hon'ble Chief Minister of Tamil Nadu and the senior officials of Guidance Tamil Nadu, while the Bokakhat proposal has been presented to the Hon'ble Chief Minister of Assam.

Ganesan Natarajan in discussion with the Hon. Chief Minister of Assam, Dr. Himanta Biswa Sarma
Chairman Ganesan Natarajan presents the Integrated Water Hyacinth Bio Refinery proposal to the Hon. Chief Minister of Assam, Dr. Himanta Biswa Sarma.
Ganesan Natarajan presenting a memento to the Hon. Chief Minister of Assam
A memento marks the occasion — Assam's four-site biorefinery initiative would turn the state's water hyacinth crisis into industrial prosperity.

Industry Outlook names Topaz Solar Company of the Year — Renewable Energy Solutions 2026, profiling the company as "Building the Next Chapter of India's Circular Energy Economy."

— Industry Outlook, 2026 feature
Partner invitation · Landowners & growers

Own 250+ acres? Grow Giant King Napier Grass — and become a partner in a BioCBG plant, anywhere in India.

Topaz Solar invites landowners with 250 acres or more willing to cultivate Giant King Napier Grass as energy feedstock into partnership in a BioCBG plant. Napier is a high-yield perennial — plant once, harvest for years — with assured offtake under GOBARdhan's administered CBG price and CGD networks. You bring the acreage; we bring project development, technology, offtake and policy support.

Register your interest
Work with Topaz Solar

Where waste becomes feedstock and emissions become products

Partner with us on CBG, Green Hydrogen and circular bioenergy projects across Tamil Nadu and Assam — as an offtaker, technology partner, lender or investor.

Topaz Solar

  • Chairman & Chief Mentor: Ganesan Natarajan
  • Footprint: ₹1,453 Cr across five Tamil Nadu projects (Veppur · Palani · Kamudhi · Bio-Fertilizer Plant · Thoothukudi) · Bokakhat + four further locations, Assam
  • Purpose: Projects developed on a commercial basis — but mainly as a contribution to this country's sustainability
  • Value streams: CBG · Green Hydrogen · Cryogenic Dry Ice · Bio Fertiliser · Bio Ethanol · Bioplastics
  • Firsts: India's largest GH₂ cum Dry Ice plant (Veppur) · first water hyacinth & bamboo BioCBG complex (Bokakhat) · first BioCBG CO₂-to-Dry-Ice capture in India
  • Recognition: Industry Outlook Company of the Year — Renewable Energy Solutions 2026
  • Landowner partnership: 250+ acres for Giant King Napier Grass? Partner with us in a BioCBG plant anywhere in India.