Union Minister Hardeep Puri assures industry of the stability in the price of ethanol

New Delhi [India], September 2 (ANI): Union Minister for Petroleum and Natural Gas, Hardeep Puri, on Monday assured the industry of the stability in the prices of ethanol.

Addressing the IFGE’s India Bio-Energy and Tech Expo in New Delhi, Puri said, “The continued policy of the government in providing price stability and remunerative prices for ethanol suppliers has helped in reducing the pending of sugarcane farmers. The government is committed to advancing alternative fuels, such as ethanol, for future automobiles.

To reduce pollution along with achieving energy security goals, the government has set up 2G (Second Generation) refineries to make ethanol from Stubble (Parali) in Panipat (Haryana), and bamboo in Nomaligarh (Assam), said the Union Minister.

“We have set up 2G refineries to make ethanol from parali in Panipat, and bamboo in Nomaligarh with the twin objective of reducing pollution along with achieving energy security goals. These initiatives are also empowering the transformation of our farmers from Annadatas to Urjadatas,” the Union Minister said while addressing the IFGE’s India Bio-Energy and Tech Expo in New Delhi.

Speaking during the event, Puri said that India’s energy blending programme has been a major success. He said that the ethanol blending percentage has gone up from 1.53 per cent in 2014 to 15 per cent in 2024.

“Buoyed by the success, we advanced the 20 per cent target by five years to be completed by the ethanol blending year for 2025, which will be by October 2025. And I am very happy to inform you that we are on track to achieve that,” Puri stated.

Puri said that India’s ethanol blending program has brought many benefits in the last 10 years. He mentioned that foreign exchange saved in the period between 2014 and 14 July 2024, was Rs. 99,014 crores.

The carbon dioxide emissions lowered till 14 July 24 for this 10-year period, 519 lakh metric tonnes. Crude oil substitution achieved till 14 July 24, 173 lakh metric tonnes. The amount paid to the distillers by EMCs (Ethanol Manufacturing Companies), is Rs 1,45,930 crores, and the amount paid to the farmers till this date stood at Rs 87,558 crores.

Praising the automobile industry for supporting the fuel transition, Puri said, “During this transition, support is also being provided to facilitate the use of transition fuels in older vehicles. I would like to commend the automobile industry for not only manufacturing new vehicles that are compliant with E20 fuel but also for their efforts in developing retrofit kits for older vehicles.”