Global Biofuel Alliance – An opportunity for indigenous technologies to fulfil the renewable energy goal
India has surplus biomass residues in the range of ~ 200 million tonnes that can be converted into biofuels , writes Dr Syed Shams Yazdani
The Global Biofuels Alliance was announced on the sidelines of the latest G20 meeting in New Delhi . The major aim of the GBA is to bring together biofuel producers and consumers with the intent to strengthen the global biofuels trade for a greener , sustainable future . To ensure energy security , affordability , and accessibility for the future , the GBA will facilitate global collaboration , supporting the development and deployment of sustainable biofuels .
India imports 85 % of its oil needs , which impacts majorly on its forex . To cut imports , India has already achieved 10 % blending of ethanol with petrol and has advanced the target date for achieving 20 % blending by five years to 2025-26 . This is also in line with the IEA forecast related to climate change , which states that biofuel production must triple by 2030 to progress on a net zero trajectory .
India gears up to tap opportunities
The global ethanol market was valued at $ 99 billion in 2022 and is predicted to grow at a CAGR of 5.1 % to achieve $ 162 billion by 2032 . In this context , India has an opportunity to play an important role in the international market via the Global Biofuel Alliance .
India ’ s ambitious new blending target of 20 % by 2025-26 can be achieved via 2G ethanol production using biomass
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