India is set to spend around $7 billion to boost ethanol production as it prepares to develop a green mix of gasoline that can reduce dependence on foreign oil.
About 10 billion liters of ethanol would be needed each year to meet the 20% ethanol-blended fuel standard by 2025. This is triple the amount of ethanol that will go into blending compared to the year ending November 2021, when ethanol constitutes 9% of blended gasoline. The move would require an investment of around Rs 50,000 crore for the construction of new bio-refineries.
Earlier this month, Prime Minister Narendra Modi pushed forward the country’s goal of making gasoline with 20% ethanol by 2025, which is expected to save $4 billion annually. It will expand the use of renewable energy in the world’s third-largest oil importer and help convert the country’s surplus rice and damaged food grains to ethanol.
While most of India’s ethanol output is currently made from sugarcane molasses, India is pushing for greater production from non-sugar sources that make up less than 10% of current supplies. The Indian Government is offering financial assistance for setting up distillation units that rely on molasses and grains as raw material.
India is looking to reach a stage of ethanol production where 50% would be sugar-based and 50% grain-based.
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