Large Potential of Growth for Bio-Fuels in Country
Speaking on the occasion, Minister of State (I/C) for Power, Coal, New & Renewable Energy and Mines Sh. Piyush Goyal said that rapid strides have been made in the last two years in the field. He said that Viability Gap Funding Scheme for the sector can be evolved in consultation with the stakeholders. Further, the Minister laid down a vision for the growth and development of the bio-fuel sector. He called for organizing an International competition, under the aegis of the MoPNG, MNRE and the Department of Biotechnology (DBT), and invite stakeholders from all around the World to brainstorm and devise innovative technologies and novel ideas to integrate the use of bio-fuels in the lives of the common man. Sh. Goyal said speed, skill and scale are important for success of any programme and they should be included in the Bio-fuel programme also. He further added that bio-fuels are closely linked to increasing the quality of life of the common man as they would provide a sustainable way to convert human generated wastes to energy and reduce pollution as well. The Minister pointed out that a major challenge that faces the sector is the sustainable availability of feedstock for the bio-fuel generation plants.
On the occasion of Bio-fuel World Day, National Conference on ‘Energy Security for India – Creating a Bio-fuel Economy’ was organized. The World Bio-fuel Day is celebrated every year to commemorate the anniversary of the successful working of a diesel engine, run on peanut oil, by German innovator Rudolf Diesel in 1893. The National conference brought together stakeholders of the Bio-fuel sector viz., the Government, Public Sector Undertakings and the Private Sector.
Investment announcements were made by Private Equity and Public Sector Oil Marketing Companies. IOC, BPC, HPC and NRL have identified 10 locations for setting up 2G ethanol plants with an estimated investment of Rs.5000/- crore. Private players like CMC Bio-refineries, Praj Industries Ltd., Munzer, Novozymes and Shell have also announced an investment of Rs.5000/- crore in the field of Bio-fuels in India. The conference aimed at accelerating the bio-fuel programme in the country and draw up a road map to reduce the consumption of fossils fuels by replacing it with locally produced bio fuels thus reducing the foreign exchange out flow, generate rural employment and protect environment.