In a significant development, India has extended a cordial invitation to nations of the Global South, urging their participation in the recently inaugurated Global Biofuels Alliance. Emphasizing its commitment to fostering collaboration and sharing expertise, India’s Oil Minister, Hardeep Singh Puri, highlighted the alliance’s mission to collectively curb emissions in the transportation and industrial sectors. The Global Biofuels Alliance, boasting prominent members such as Brazil and the US, aims to bolster the global biofuel trade derived from biomass.
Speaking at the 2nd Voice of Global South Summit, Minister Puri showcased India’s remarkable achievements in biofuel integration, achieving a notable 10% ethanol blending in petrol ahead of schedule. Puri also announced an ambitious move to escalate ethanol blending to 20% by 2025, five years earlier than initially planned. This strategic shift not only enhances the nation’s energy security but aligns with its commitment to a cleaner, greener future.
Furthermore, Puri underscored India’s dedication to collaboration, inviting Global South countries to join efforts in diverse areas such as knowledge sharing, technology transfer, joint research and development, and human capacity development. India’s laudable journey from a 1.4% biofuels blending in petrol in 2014 to the current 10% milestone has not only boosted farmers’ income but also substantially reduced carbon emissions.
Puri’s address also showcased India’s broader commitment to sustainable energy practices. The country has become the world’s largest producer of renewable energy, with 40% of its installed electricity capacity sourced from non-fossil fuel alternatives. Puri highlighted the remarkable reduction in solar and wind power tariffs, signaling India’s prowess in harnessing cleaner energy sources.
A noteworthy initiative mentioned is India’s launch of a national green hydrogen mission, aiming to produce 5 million tonnes by 2030, positioning the country as a global hub for green hydrogen production, usage, and export. Puri acknowledged the global energy crisis and emphasized the need for collaborative approaches to achieve an energy transition, especially in developing economies.
In conclusion, India, currently the third-largest global energy consumer, is strategically navigating a path towards a 5 trillion-dollar GDP economy by 2025. The nation’s energy diversification policies, focusing on non-conventional sources such as biofuels, compressed biogas, green hydrogen, solar, and wind, reflect a commitment to mitigating climate change while ensuring energy security.
By PTI