Biofuel Alliance
Biofuel Alliance will provide an opportunity to G20 countries including India to transform their energy sector. Biofuel requires less investment as compared to other energies. The IBA study said that initially an investment of about 100 billion dollars is required to expand the biogas industry. This will create opportunities worth $100 billion in the next three years.
The Biofuel Alliance will create opportunities worth $500 billion for G20 countries over the next three years. This is what the Indian Biogas Association has to say. Also said that it is good for G20 countries as well as the environment.
A study was done for this by IBA, in which it was told that opportunities worth 500 billion dollars can be created in the next three years.
India presiding over G20
This study came out at such a time. When India is presiding over G20. Opportunities worth $200 billion can be created with the help of biogas. Compared to other energy options, it will require less investment because the raw material for it is easily available.
Ability to replace biofuels
Bioenergy/biogas theoretically has the potential to replace biofuels. This will help in making its transport sector carbon free.
However, the study said that to expand the biogas industry, an initial investment of about $ 100 billion is required.
In 2016, an optional action plan was created by the G20 to advance renewable energy. After this, India has achieved considerable progress in renewable energy. Renewable energy capacity in the overall energy mix has been increased at a CAGR of 22 percent. India has increased solar energy capacity 20 times in the last decade.
According to the Ministry of New and Renewable Energy, the current biogas and CBG production in the country is 1151 MT per day and according to an estimate, it can go up to 1750 MT per day by the year 2025.
