Technologies sought for US$10bn ethanol plants
Petroleum and Natural Gas Minister Dharmendra Pradhan has invited investing Companies to bring technology, capital and good business models to India.
“I invite all energy players to bring their technology & investment here and become a part of India’s growth story,” said Pradhan, underlining that the country has moved to open, transparent, process-driven policy atmosphere, and all are welcome to invest.
“The investing companies must bring technology, capital and good business models to India, he said at the 2nd Annual India Leadership Summit of the US-India Strategic Partnership Forum (USISPF) held in Delhi on 21 Oct 2019.
Today, India is the hotspot in energy investment destination in the world. Policy reforms have further simplified doing business in India, he assured.
Speaking about India’s efforts towards decarbonisation, he pointed out that India is expanding its footprints in carbon-free energy, including renewables and bioenergy.
“Technology and innovation can become game changers for India’s quest for decarbonising and developing into a gas-based economy for a cleaner & sustainable energy future.”
India has raised an ambitious target of producing 175 GW energy through renewable energy sources to 450 GW.
Dwelling upon the issues of ethanol and bio-energy, he further added, “From less than 1% ethanol blending in 2015, we have increased our EBP to 6%.
“We are working to push up the percentage even further,” added Pradhan.
Bioenergy is also being pushed in a big way with Govt’s focus on ways to monetise the 600MT of non-fossilised biomass available in the country.
“The US can collaborate with us through deployment of its technological innovations and capital resources in India and become partner in India’s bio-fuel revolution,” said the Minister, adding that US$10 billion ethanol plants are in in plans in the country.
Talking about India-US partnership, Pradhan highlighted “Energy is increasingly an important component of our bilateral trade. Our crude oil import from USA was almost nil in 2014. Now, the total import of petroleum products from USA including LNG in 2018-19 stood at over US$7 billion and is likely to go up further this year.”
On the issue of India’s role in global energy landscape, he added,
“Growth in global energy consumption will be driven by India,” he went on, adding that India’s vibrant market presents immense opportunity.
“World is moving towards a new energy model. We are committed to ensure that India leads the global energy transition.”
The USISPF delegates also called on Prime Minister Narendra Modi on 21 Oct 2019.
The USISPF is a non-profit organization, with the primary objective of strengthening the India-US bilateral and strategic partnership through policy advocacy in the fields of economic growth, entrepreneurship, employment-creation, and innovation. fiinews.com
