Praj Industries Limited and Indian Oil Corporation Limited have inked an MoU to fast-track India’s transition to cleaner and greener sources of energy by exploring sustainable aviation fuels, 1G and 2G ethanol, compressed biogas and related opportunities in the biofuels industry.
Exploring these green energy horizons will be crucial for India to achieve carbon neutrality by 2070.
This MoU will boost ATJ fuel production capacity and its use in India which will in turn help curb emissions emanating from the aircraft.
IndianOil and Praj will also collaborate to set up biofuel production facilities, including CBG, biodiesel and ethanol.
Shrikant Madhav Vaidya, chairman of Indian Oil, said: “Our alliance with Praj will augment the share of biofuels in India’s energy portfolio.
Alcohol-to-jet fuel presents a great opportunity that must be leveraged to comply with the CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) guidelines to substantially reduce carbon emissions in the aviation sector. This development is in line with the ‘Panchamrit’ agenda unveiled by Hon’ble Prime Minister at the COP26 Glasgow Summit, to fight climate change and global warming.”
Dr Pramod Chaudhari, founder chairman, Praj Industries, added: “We are delighted to partner with Indian Oil to increase the share of biofuels in India’s transportation fuel mix. Objectives of this overarching MoU are strategic in nature and encompass socio-economic-environmental aspects related to the nation’s growth. In a world threatened by climate change, the drive towards a low carbon economy is not an option; it is an obligation! Biofuels are playing a vital role in sustainable climate action.”
Praj has established itself as India’s leading bio-economy company with a strong focus on driving climate actions across the globe.