[ad_1]
Focusing on advancing the adoption of biofuels in India
Indian Oil has entered into a joint venture agreement with EverEnviro Resource Management, one of the leading biofuel companies in the country. This association will pave the way for the formation of an equal joint venture dedicated to advancing the adoption of biofuels across the country.
The joint venture will focus on the integration of advanced biogas technologies to convert organic waste into compressed biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels. By leveraging their combined expertise, IndianOil and EverEnviro aim to accelerate the deployment of CBG plants nationwide.
These initiatives complement IndianOil’s long-term low-carbon development strategy and achievement of Net Zero operational target by 2046, which will also contribute to achieving India’s Net Zero target of here 2070. CBG offers many benefits to India and the environment. For the country, this promotes energy security by reducing dependence on imported fossil fuels and supports the rural economy by creating local employment opportunities.
Powered by Capital Market – Live News
Disclaimer: No Business Standard journalists were involved in the creation of this content.
First publication: October 14, 2024 | 9:18 p.m. STI