The burgeoning energy demand in our nation, propelled by its growing economy, currently witnesses approximately 98 per cent of the transportation sector’s fuel needs being fulfilled by fossil fuels, while the remaining 2 per cent is sourced from biofuels.
Food Secretary Sanjeev Chopra said the decision was taken in the meeting of a Committee of Ministers.
Many oil companies have been investing in biofuels for decades, especially through research efforts and venture capital spending. In recent times, they have also entered into green hydrogen and have committed to huge investments. Much of this in current times is being driven by the need to remain relevant in a post energy transition scenario
The CCEA decided to raise the price of ethanol from C heavy molasses from Rs 46.66 per litre to Rs 49.41 per litre.
The government has extended the deadline for the scheme which provides financial aid to molasses-based distilleries for enhancing ethanol production, by six months till April 21, 2023.
BSE-listed Mishtann Food Limited has announced plans to set up a 1,000 Kilolitres Per Day (KLPD) grain-based ethanol manufacturing facility in Gujarat.
'Save Soil Movement' is a global movement to increase awareness about deteriorating soil health and bring about a conscious response to improve it. The movement was started by Sadhguru in March 2022, who embarked on a 100-day motorcycle journey passing through 27 countries and June 5 marks the 75th day of the 100 day journey.
Production capacity of ethanol in the country has also increased to 825 crore litres as on September 2021, which is sufficient to meet the target of 10 per cent ethanol blending in ESY 2021-22. "This production capacity has further increased to 849 crore litres till March 31 this year," officials said.
The Union Cabinet has approved on 15th September, 2021, a Production Linked Incentive(PLI) Scheme for Automobile and Auto Component Industry with a total outlay of Rs. 25,938 Crore over a period of 5 years.
The Minister said ethanol production could save the country’s fuel. “There is a need to run vehicles on electricity and ethanol on the lines of Brazil,” the Minister said.
