New Delhi, October 14: The government has advanced its target for 20 per cent ethanol blending by 2025, reinforcing its commitment to sustainable energy, Union Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on Monday. The minister said discussions have already started to develop a roadmap for the future, post the attainment of the 20 per cent blending target.
“This roadmap will guide the country’s next steps in its pursuit of energy sustainability and self-reliance,” said Minister Puri at the 12th edition of the ‘CII Bioenergy Summit’ in the national capital. The country’s ethanol blending initiative has seen the percentage rise from 1.53 per cent in 2014 to a projected 15 per cent by 2024. Puri commended Prime Minister Narendra Modi’s leadership in transforming India’s bioenergy ecosystem since 2014. Amazon Sambhav Hackathon 2024: E-Commerce Giant Announces Nationwide Competition To Develop Next-Gen Tech, AI-Driven Innovations for SMBs.
The minister emphasised the crucial role of market dynamics, technology advancements, and supportive government policies in driving this transformation and enhancing sustainability in the energy sector. From 2014 till August 2024, the ethanol programme has generated foreign exchange savings of Rs 1,06,072 crore, reduced CO2 emissions by 544 lakh metric tonnes, and achieved crude oil substitution of 181 lakh metric tonnes.
“Payments to distillers by oil marketing companies (OMCs) have reached Rs 1,50,097 crore. Farmers have been paid Rs 90,059 crore, empowering them from being Annadata to being Urjadata,” said the minister. Additionally, the government’s ambitious targets for Sustainable Aviation Fuel (SAF), aiming for 1 per cent blending in 2027 and 2 per cent in 2028, positioning India as a leader in bio-mobility.
Valued at $44 billion, the country’s bioenergy market is projected to grow to $125 billion by 2050. If global net-zero targets are achieved, this figure could surge to $500 billion, according to the minister. Minister Puri highlighted that the country, recognised as an agricultural powerhouse, is a leading producer of rice, wheat, cotton, sugar, and various horticultural and dairy products. Meta and MSDE Partner To Integrate AI, VR, MR Into Skill India Ecosystem at National Skill Training Institutes Across Multiple Cities.
“The country has more than 750 million metric tonnes of available biomass, with about two-thirds being used for domestic purposes such as cattle feed and compost fertiliser,” the minister noted. India’s position as a major biofuel producer and consumer has been strengthened through coordinated policies, political support, and abundant feedstocks. The minister also referred to different incentives introduced by the government to support ethanol production.
(The above story first appeared on LatestLY on Oct 14, 2024 07:49 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website todaynews24.top).
//vdo //(function(v,d,o,ai){ai=d.createElement('script');ai.defer=true;ai.async=true;ai.src=v.location.protocol+o;d.head.appendChild(ai);})(window, document, '//a.vdo.ai/core/latestly/vdo.ai.js');
//colombai try{ (function() { var cads = document.createElement("script"); cads.async = true; cads.type = "text/javascript"; cads.src = "https://static.clmbtech.com/ase/80185/3040/c1.js"; var node = document.getElementsByTagName("script")[0]; node.parentNode.insertBefore(cads, node); })(); }catch(e){}
} });