Indian renewables ministry proposes biodiesel price hike in bid to revive industry
In India, the Ministry of New and Renewable Energy (MNRE) and Confederation of Indian industry (CII), in an attempt to restart its biodiesel industry, have recommended a price increase for biodiesel from jatropha.
According to a study from MNRE and CII, the price of jatropha biodiesel needs to be raised to $0.79/litre from $0.59/litre in order to make it sustainable and to encourage suitable growth for the Indian biodiesel industry.
The study estimates that if jatropha biodiesel blending increased to 2% in 2011-12, India will save around $663.2 million and will generate revenue of around $1.21 billion in the rural economy with an opportunity for investment up to $375 million annually. This initiative would also help reduce Green House Gas emission by 3 million metric tons (MMT) on an annual basis.
Category: Fuels
