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- Average blending percentage in Ethanol supply year (December 2020-November 2021) till May end was 7.56%
- Battery technology is essential to achieve the mission of promoting renewable energy sources.
- The government has set a target of achieving 450 GW of electricity from renewable energy sources by 2030.
Commerce and Industry Minister Piyush Goyal said that in the matter of ethanol blending, the ultimate aim of the government is to see fully ethanol-powered vehicles on the country’s roads. The government has reduced the deadline for oil companies to bring down ethanol blending in petrol to 20% from 2025 to 2023-24.
Decided to reduce deadline in June
The government is focusing on blending with the aim of reducing dependence on import of petrol and making the fuel environment friendly. This will give cheaper and cleaner fuel to the consumers. Chinese companies will be encouraged to earn more by increasing ethanol production. In June, when the government decided to reduce the deadline, shares of Chinese companies had jumped nearly 8%.
Battery technology important for government’s purpose
Commerce and Industry Minister Piyush Goyal said that the ultimate aim of the government is to see vehicles run entirely on ethanol on the roads of the country. He also said that battery technology will be essential to achieve the government’s mission of promoting sustainable sources of energy and renewable energy sources. Goyal said that huge investments are being made on battery technology in the country.
The average blending percentage at the end of May was just 7.56%
Addressing CII’s Atmanirbhar Bharat Conference and Exhibition – Self Reliance in RE (Renewable Energy – Renewable Energy) Manufacturing, Goyal said, “By 2023-24, 20% ethanol will be added to petrol products in the country. Our ultimate goal is to bring fully ethanol powered vehicles in the country. Significantly, in the current ethanol supply year (December 2020 to November 2021), the average blending percentage till May end was just 7.56%.
450 GW capacity target of renewable energy by 2030
He said that those driving battery cars would be encouraged to charge their vehicles with renewable energy sources or solar energy during the day. For this, the government is exploring the possibility of starting large-scale charging stations at gas stations across the country.
Goyal also said that the government has set a target of achieving 450 GW of electricity from renewable energy sources by 2030. Earlier, the target was set to achieve 175 GW of electricity power from such sources of energy by 2022.