Praj Industries, Indian Oil sign agreement to explore alcohol-based SAF
Praj Industries Ltd. and Indian Oil Corporation Ltd. have signed a memorandum of understanding (MOU) to explore biofuel opportunities including production of alcohol-based sustainable aviation fuel (SAF) in order to help India achieve carbon neutrality by 2070.
This MOU is expected to boost “alcohol-to-jet” fuel production capacity and its use in India, which will help cut aviation emissions per the International Air Transport Association’s mandate.
“Our alliance with Praj will augment the share of biofuels in India’s energy portfolio,” said Shrikant Madhav Vaidya, chairman of Indian Oil. “Alcohol-to-jet fuel presents a great opportunity that must be leveraged to comply with the CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) guidelines to substantially reduce carbon emissions in the aviation sector. This development is in line with the ‘Panchamrit’ agenda unveiled by the prime minister at the COP26 Glasgow Summit, to fight climate change and global warming.”
Pramod Chaudhari, founder chairman of Praj Industries, said, “We are delighted to partner with Indian Oil to increase the share of biofuels in India’s transportation fuel mix. Objectives of this overarching MOU are strategic in nature and encompass socioeconomic-environmental aspects related to the nation’s growth. In a world threatened by climate change, the drive towards a low-carbon economy is not an option—it is an obligation. Biofuels are playing a vital role in sustainable climate action.”
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