Page 47 - Plastics News October 2021

BUSINESS NEwS

Nitin Gadkari Emphasized The Adoption Of Reliance Invests 25

Alternative Fuels Million Euros In

to 20% sugar into NexWafe GmbH
B-Heavy Molasses.
He said this will have
multiple benefits as it ontinuing its aggressive foray into
will utilise an excess Cthe renewable space, Reliance
stock of around 45 Industries, through its unit Reliance
to 60 Lakh Metric New Energy Solar Ltd (RNESL),
Tonnes of Sugar has now invested 25 million euros in
and will improve the German "green solar wafers" technology
ethanol recovery by company NexWafe GmbH and formed
30% due to better a partnership with Danish company
qua lity o f r a w Stiesdal A/S for hydrogen electrolyser.
material. On similar These acquisitions, according to market
lines, the Minister said experts, are positive for the company
Union Minister for Road Transport production of C-Heavy Molasses from and its investors. Such investments
and Highways Shri Nitin Gadkari has sugar can be discouraged which will could generate 20 per cent EBITDA
emphasized the adoption of alternative standardise the production of B-Heavy over time and in absolute terms generate
fuels which will be import substitutes, Molasses and will permanently lead to EBITDA equal to its petrochemical
cost-effective, pollution-free, and lesser production of sugar by 1.5% per arm. Long-term investors of Reliance
indigenous, and discouraged the use Metric Tonne of Sugarcane. Gadkari Industries may be happy about the
of petrol or diesel as a fuel. Addressing said all of these steps will increase the gradual transition of the company to
‘Indian Sugar Mills Association (ISMA)’ production of ethanol and can lead to the carbon neutral stage which may
Conference on ‘Alternative fuel- Road a scenario where excess availability of generate higher investor interest going
ahead’ he said that biggest benefit of ethanol in one state can be transported forward. The two new deals come just a
Bioethanol as alternative fuel is that it is to ethanol-deficient states such as the few days after the company announced
a clean fuel with very low greenhouse gas North-East and Jammu-Kashmir and acquisition of 100 per cent stake in
emissions. He said the additional income Ladakh. He said Bio-ethanol can also be a solar panel manufacturer REC Solar
that is generated is directly diverted to the sustainable fuel for aviation purpose. as it
farmers, which empowers the rural and can provide 80% savings on greenhouse
backward economy. Gadkari said looking gas emissions and can be blended up to
at the ethanol production capacity and 50% with conventional jet fuels without
its adoptability as a fuel, the government any modification. Gadkari said, "bio-
has redesigned and launched the E-20 ethanol can be a sustainable fuel for
fuel program which will ensure the use the aviation purpose as it can provide
of bio-ethanol in 20% blend with Petrol 80 per cent savings on the greenhouse
by 2025 in India. He said government gas emissions and can be blended up to
has also calculated that to achieve 20% 50 per cent with conventional jet fuel
ethanol blending, the country will require without any modification." He said with
around 10 billion litres of ethanol the rollout of flex-fuel vehicles on 100%
by 2025. He said currently, the sugar bio-ethanol, the demand for ethanol Holdings AS from China‘s National
industry contributes to 90% of ethanol will immediately jump by 4 to 5 times.. Bluestar Group for an enterprise value
demand as a blended fuel in the country. Bioethanol is a form of renewable energy of USD 771 million. It also announced
Shri Gadkari said he keeps on doing that can be produced from agricultural acquisition of a 40 per cent stake in
research to find ways to increase ethanol feedstocks. It can be made from very Sterling & Wilson Power, which is
production with available resources common crops such as hemp, sugarcane, into engineering, procurement and
and one such proposal is to add 15% potato, cassava and corn. construction for solar power projects.

46 PLASTICS NEWS OCTOBER 2021 47 PLASTICS NEWS OCTOBER 2021