India’s first ever green aviation fuel firm will be set up by a joint venture of Indian Oil Corporation (IOCL) and US-based clean energy technology company LanzaJet Inc, and domestic airlines, projects Projects Today.
The plant will be producing sustainable aviation fuel with alcohol-to-jet technology at IOCL’s Panipat refinery in Haryana by spending Rs 3,000 crore. It will use corn-based, cellulosic, or sugar-based ethanol to produce SAF. The plant’s initial capacity would be to produce 85,000 tonnes of fuel per year.
The IOCL will have a 50% stake in the new company, LanzaJet will have a 25% stake, and the airline companies will have the remaining 25% stake. Several airline companies can opt for a stake from two to five percent in the company and will ensure the utilization of fuel.
The Centre is taking steps to reduce emissions in the aviation sector and involving airlines in such types of new projects.
