2K Crores being invested in biodiesel sector to reach net zero by 2070

New Delhi : The central government is consistently prioritising the green economy, with the goal of reaching net zero by 2070. Biodiesel has emerged as a crucial method for reducing air pollution, with a focus on indigenous feedstock. The Finance Ministry’s notification no. 15/2023, issued March 31, 2023, requires biodiesel blending to begin on April 1, 2024. To accommodate this need, OMCs and the biodiesel industry are developing the necessary infrastructure. Biodiesel consumption has more than doubled in the previous year, and the MSME sector is investing heavily owing to expected demand from oil firms. According to Dharamveer Singh Rajpurohit, Vice President of the Biodiesel Association of India, around 100 new facilities would be established in the nation during the next year, with an average investment of Rs. 2000 crores.

India’s proposal for a worldwide alliance on biofuels during the G20 meeting in the nation intends to increase the use of sustainable biofuels in global energy. Sustainable biofuels have the potential to improve energy security, open up new markets for home companies, and generate green employment. The Biodiesel Association of India has appointed a new management committee, with shri SK Mondal as President, Dharamvir Singh Rajpurohit as Vice President, and Brij Shah, Sarad Agrawal, and Yatin Saggar as members.

Mr. Dharamvir Singh Rajpurohit, newly elected Vice President of the BioDiesel Association of India, said that “sustainable biofuels can increase energy security, open new opportunities for domestic industries, and create green jobs.” In FY23-24, we pledged the government to provide 100 million litres of biodiesel. In the next year, 100 plants will be built in Maharashtra, Delhi, the South, Gujarat, Rajasthan, and other states, with an investment of around Rs.2000 crore. E-Diesel Biofuels Pvt Ltd.’s biggest biofuel factory in the nation, located in Nadiad (Gujarat), would also witness a Rs 150 crore investment, with a daily capacity of 10 lakh litres.

BDAI has been supporting the Government’s G20 programme and has participated in Goa, Mumbai, and Delhi to demonstrate its commitment to the national aim of net zero emissions by 2070. During the pre-COVID period, the country’s main oil corporations such as BPCL, HPCL, and IOCL purchased roughly 5-10 crore Litres of biodiesel each year, which will now be multiplied many times over in the near future.