07/03/2018 New policy soon on biofuels with Rs 1 lakh crore potential: Dharmendra Pradhan - The Economic Times

ET Home › Industry › Energy › Oil & Gas Search for News, Stock Quotes & NAV's

SENSEX NIFTY 50 GOLD (MCX) (Rs/10g.) USD/INR Download ET CHOOSE

03:24 PM | 07 MAR LIVE CREATE LANGUAGE
PORTFOLIO MARKETS APP
MARKET STATS 33,075 -242.11 10,164 -85.15 30,603.00 30.00 64.96 0.00 ENG

New policy soon on biofuels with Rs 1 lakh crore potential:

Dharmendra Pradhan
BY IANS | MAR 07, 2018, 01.59 PM IST Post a Comment

In a major move on sustainable development, the government is to soon bring out a

National Biofuels Policy for a sector poised to become an economy worth Rs 1 lakh crore,
Petroleum Minister Dharmendra Pradhan said on Wednesday.

The policy would detail the architecture for India to make the move towards adopting
second generation, or advanced, biofuels in the future, from the current first generation
ones being used, which are essentially sugar-based, Pradhan said addressing the first
EU-India Conference on Advanced Biofuels here.

"We will shortly have a new national policy on biofuels, the note for which is to be placed
before the cabinet soon," he said.
The Minister also pointed out that OMCs are
preparing to set up 12 advanced biofuel refineries in
"The policy will go beyond biofuels based on sugar and see what other kinds of feedstock various states over the coming years.
can be used like cellulosic and lignocellulosic materials. There is a Rs 1 lakh crore
opportunity available in this waste-to-wealth economy." EXPAND
RELATED COMPANIES

For India, in the future, biofuels would be the cost-effective, pollution-free import substitute IOC
to polluting fossil fuels. While first generation biofuels are made from sugars via molasses
and vegetable oils, advanced biofuels are made from lignocellulosic biomass or woody Indian Oil
crops, agricultural residues and municipal waste.
Big Change:
The end of Five-Year Plans: All you need to know
Noting that biofuels in India are currently "only made from molasses", Pradhan pointed out
that Budget 2018-19 presented last month had announced incentives for "waste-to-wealth" conversion projects, including the Gobar
Dhan scheme focused on producing bio-CNG.
Recommended By Colombia
The best smartphone 10 days hair oil - 3000
launched till date! happy customers & 100+
The Economic Times
reviews.
Rathira Ayurveda

As a measure of incentivising, state-run oil marketing companies (OMCs) have already agreed on long-term offtake of 2G ethanol by
assuring suppliers of 15-year offtake contracts, Pradhan said.

He cited the example of Indian Oil Corp's (IOC) recent agreement with the Punjab government to set up several bio-CNG (compressed
natural gas) plants in the state over the next 5 years.

The Minister also pointed out that OMCs are preparing to set up 12 advanced biofuel refineries in various states over the coming years.

Pradhan noted that the current level of ethanol blending in petrol is at a level of 2.5 per cent. OMCs are implementing the Ethanol
Blended Petrol (EBP) programme under which they can sell the EBP with the percentage of ethanol up to 10 per cent.

In his opening remarks, European Commission Energy Directorate Deputy Director General Christopher Jones said that while the
European Union is committed to cut carbon emissions by 40 per cent by 2030, it is imperative to help non-food feedstock-based
advanced biofuels become an industry of scale owing to the land-use and food security issues involved in producing first generation
biofuels.

Indian Oil currently operates three biofuel plants, and according to sources here, plans to increase such refinery capacity to 100 tonnes
a day from about 12 tonnes a day in the next two years.

Stay on top of business news with The Economic Times App. Download it Now!

https://economictimes.indiatimes.com/industry/energy/oil-gas/new-policy-soon-on-biofuels-with-rs-1-lakh-crore-potential-dharmendra-pradhan/prin… 1/2
07/03/2018 New policy soon on biofuels with Rs 1 lakh crore potential: Dharmendra Pradhan - The Economic Times

Live Market Industry About Us

News Newsletters Create Your Own Ad
Portfolio Commodities Advertise with Us
Powered by Mobile Speed Terms of Use & Grievance Redressal
Live TV Blogs Privacy policy
Biz Listings RSS

Download it from Download it from Download it from

FOLLOW US APP STORE GOOGLE PLAY Windows Store

Other Times Group news sites Hot on the Web

इकनॉिमक टाइ | ઈકોનોિમક ટાઈ સ | Pune Mirror | Bangalore Mirror | Ahmedabad Mirror |
ItsMyAscent | Education Times | Brand Capital | Mumbai Mirror | Times Now |
Indiatimes | नवभारत टाइ | महारा टाइ | ಜಯ ಕ ಾ ಟಕ | Go Green | AdAge India |
Eisamay | IGN India | NavGujarat Samay | Times of India | Samayam Tamil | Samayam
Telugu | Miss Kyra | Bombay Times | Filmipop | BrainBaazi | BrainBaazi APP
Living and Entertainment
Timescity| iDiva | Entertainment | Zoom | Healthmeup | Luxpresso | Gadget Reviews |
Titanium & Platinum Credit Card | Online Songs | MensXP | Hotels | Travel
Destinations | Cricbuzz | Recipes | Gaana | Happytrips | Getsmartapp
Interest Network
itimes
Share Market | GST | Income Tax Slabs | Aadhaar Card | How to Save Income Tax |
Axis Bank IFSC Code | Tax Saving Guide | Sensex Today | Nifty Bank | Sensex |
Income Tax Calculator | Karnataka Election 2018
Services
Book print ads| Online shopping | Matrimonial | Astrology | Jobs | Tech Community |
Property | Buy car | Bikes in India | Free Classifieds | Send money to India | Used Cars
| Restaurants in Delhi | Remit to India | Buy Mobiles | Listen Songs | News |
TimesMobile | Real Estate Developers | Restaurant Deals in Delhi | Car Insurance |
Gadgets Now | Free Business Listings | CouponDunia | Remit2India | Techradar |
AliveAR | Getsmartapp App | ETMoney Finance App | Feedback | Auto

In Case You Missed It

PNB Fraud Nirav Modi

GST IPO

GST Rates Aadhaar Card

Bank FD Rates SBI Share Price

PNB to Nirav Modi Sensex

Nifty Crude Oil Price

Copyright © 2018 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service

Skinning Impression Tracker

https://economictimes.indiatimes.com/industry/energy/oil-gas/new-policy-soon-on-biofuels-with-rs-1-lakh-crore-potential-dharmendra-pradhan/prin… 2/2