Nexgen Energia will expand its business vertical to set up ethanol plants to boost the production in the country.
On the occasion of World Biofuel day, Nexgen Energia, India’s fastest-growing clean fuel energy company announces its expansion plan to enter the Ethanol segment and set up plants across the country. The company plans to invest around Rs 300 crore into its upcoming projects in the coming fiscal year.
The Government of India has already made strategic interventions by expanding the ethanol blending program, enabling the conversion of feedstock to ethanol, and developing policies, and favourable financial mechanisms. The government has advanced its plan to bring 20 percent ethanol mixed fuel into the market from 2030 to 2025.
Dr. Piyush Dwivedi, Chairman of Nexgen Energia said, “We are on a mission to expand the operation of ethanol plants to boost the production in India which will help to protect the economic interest of farmers, reduce carbon emission, India’s oil import bill, thereby saving foreign exchange and increasing energy security. Our goal is aligned with the government’s vision of Atmanirbhar Bharat, and we look forward to building a sustainable future for our next generation.”
According to the NITI Ayog Report, most petroleum products are used in transportation. Hence, a successful ethanol blending program can save the country $4 billion per annum, ie. Rs. 30,000 crore.
Besides, ethanol is a less polluting fuel and offers equivalent efficiency at a lower cost than petrol. Availability of large arable land, rising production of foodgrains, sugarcane, availability of technology to produce ethanol, from plant-based sources, and feasibility of making vehicles compliant to ethanol blended petrol make E20 not only a national imperative but also an important strategic requirement.
In the current situation, the country has enough raw materials but to meet the blending target of 20 percent, India would require 1,016 crore litre of ethanol. To achieve the goal, Nexgen Energia will contribute by setting up ethanol plants in pan-India to create a pollution-free better India.
Nexgen Energia has a sizable existence in almost all the clean energy portfolios including India’s first AI-based (MSW) segregation technology & CBG (CNG) manufacturing plant, ethanol manufacturing plant, green diesel production and its retail outlets, bio coal production, EV charging station, etc. The company has a massive plan of setting up 40,000 production plants and retail outlets by 2027.