Seminar to discuss ways to promote Biodiesel will be held in New Delhi

Mumbai: Biodiesel Association of India has initiated discussions on the biodiesel issues of India and a day long seminar will be held in New Delhi on 19th November, 2010 based on the theme "Biodiesel for sustainable rural livelihood and energy security".

Governments and economies worldwide are grappling to have a long term solution for sustained livelihood and provide energy security. India has the potential to become a world leader in the bio fuels sector not only ensuring employment to the rural population but also creating an alternative and clear form of energy for the masses. However, there are many hindrances to overcome.

Biodiesel Association of India is committed to promote the biodiesel industry and the seminar will discuss issues concerning the various roadblocks of this commercially viable and environmentally suitable green fuel.

Talking about the much needed policy support to make the biodiesel sector self sustaining, Sandeep Chaturvedi, President, Biodiesel Association of India said, "There is an immediate need to eradicate roadblocks and create policies such that this sector becomes self-sustaining and create the desired future for the country."

He said that immediate steps should be taken to promote usage of bio fuels for Renewable Purchase Obligation (RPO) by captive power producers including Hotel Industry using DG sets; streamline marketing and distribution of biodiesel in terms of availability, taxation and statutory regulations and put in place realistic pricing of biodiesel for stationery engines (DG sets, agri pumps, telecom towers).

S.K. Sarangi, ED, Indian Oil Corporation, said "Cultivation of energy crops including Jatropha will lead to triple benefits of employment, forestation and energy security. Such crops not only helps mitigating carbon dioxide but can also be used in the transport sector and power plants. Many like us in the industry have come forward to commit ourselves to a green and sustainable source of energy. I am sure that with required policy support this industry can lead to inclusive growth for the agriculture sector and sustainable development for the industry." IOCL has done 4000 Ha plantation this year creating 3 lacs man days and are targeting about 30,000 Ha in Chhattisgarh, 50,000 Ha in UP and 10,000 MP over a period of next 3 to 4 years. This model would be replicated in different states, targeting an area of about 7 to 9 lacs Ha, over a period of 5 to 7 years thereby generating revenue of about Rs.2000 crores year on year basis.

U.S. Pandey, DGM, Bharat Petroleum Corporation and General Secretary, Biodiesel Association of India, added "Fiscal incentives and tax concessions are being provided by European and American countries to maximize use of biofuels. As a nation we need to adopt latest and uniform technology in the field of biodiesel to optimize the cost of production". He added, "Promoting Biodiesel is one of the desired ways to have long term national solutions to create livelihood opportunities and assure energy security. This will also reduce oil import and foreign exchange outflow thus positively impacting India's trade deficit. Bio fuels will ensure multi-dimensional micro and macro benefits for the country in the medium to long term. BPCL has done 3000 Ha plantation this year creating 3 lacs man days and are targeting about 10,00,000 Ha in UP over a period of next 5 to 7 years. This would generate revenue of about Rs.3500 crores year on year basis. The project investments are about Rs.2300 crores over the period of next 4 to 5 years".

Source : Equity Bulls

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