Oil India plans to invest approximately Rs 8,000 crore in the 2G (second generation) ethanol sector, aligning with India's biofuel initiatives and the Global Biofuels Alliance's recent launch. This investment will be a collaborative effort involving Oil India and its subsidiary, Numaligarh Refinery Ltd (NRL), which will establish the ethanol plant.
Oil India's broader investment strategy, amounting to Rs 25,000 crore, is geared towards achieving a net-zero emissions status by 2040. This encompasses various areas, including 2G ethanol, green hydrogen, compressed biogas (CBG), and solar power.
Specifically, the Rs 8,000 crore investment in the 2G ethanol space represents a significant commitment to cleaner and sustainable energy sources. Oil India also aims to establish approximately 25 CBG plants as part of its broader sustainable energy initiatives.
