New Delhi: Following the global trend of shifting towards the use of renewable and sustainable fuels like ethanol, TruAlt Bioenergy is set to become Asia’s largest ethanol manufacturing company with a capacity of close to 2,000 kilo litres per day (KLPD).
Ethanol is helping farmers to earn additional income, aiding India to reduce dependence on imported crude oil, saving foreign exchange, and lifting sugar mills’ revenue.
Vijay Nirani, Founder & MD, TruAlt Bioenergy & MD, MRN Group said that with this ethanol supply, the contribution of the company will be around 7 per cent of India’s total production. He was speaking at ET Now Leaders of Tomorrow (LOT) Awards on Wednesday.
“We are now no more just a sugar mill but also have bioenergy parks. Ethanol has become one of the biggest game changers for us,” he said.
“TruAlt Bioenergy will be one of the first private companies that will be setting up 2G ethanol. We are having strategic tie-ups with industry leaders who have already setup 2G ethanol plants overseas. We are tying up and setting up in north of Karnataka,” Nirani stated.
He believes the government’s good policy has helped as a major booster. The Centre has formulated many friendly policies that helped in boosting ethanol production as it has become a saviour for many industries, along with farmers.
“In the last few years in our country, there’s been a lot of good opportunities that we have had. We belong to an agro-based industry with sugarcane being the primary product. Earlier it was just about producing sugar and congeneration power,” the young leader was quoted as saying by Times Now.
Aiming to achieve a 20 per cent ethanol blending target by 2025, the government is taking various steps to increase biofuel production. Moving in the same direction, ethanol production capacity in the country has been increased to 947 crore litres per annum till 30th November 2022.
Ethanol production in India is likely to increase as Centre approved, in last month, higher ethanol price derived from different sugarcane-based raw materials under the EBP Programme for the season 2022-23.
According to the government, the Public Sector Oil Marketing Companies (OMCs) have procured 385.92 crore litres of ethanol up to 15th November, 2022 for blending in petrol during the Ethanol Supply Year (ESY) 2021-22 (ESY: 1st December to 30th November) and 5.83 crore litres of bio-diesel for blending with diesel during the financial year 2022-23.
