{"id":80003,"date":"2023-10-11T01:00:31","date_gmt":"2023-10-11T01:00:31","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/10\/11\/india-is-tapping-into-its-bamboo-reserve-to-boost-biofuel-production\/"},"modified":"2023-10-11T01:00:31","modified_gmt":"2023-10-11T01:00:31","slug":"india-is-tapping-into-its-bamboo-reserve-to-boost-biofuel-production","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/10\/11\/india-is-tapping-into-its-bamboo-reserve-to-boost-biofuel-production\/","title":{"rendered":"India is tapping into its Bamboo reserve to boost biofuel production"},"content":{"rendered":"

India to begin bamboo-based biofuel production next year:<\/strong> India's Numaligarh Refinery Ltd (NRL) \u2014 a subsidiary of state-owned oil company Oil India \u2014 will kick off operations on the country\u2019s first bamboo-based ethanol generation refinery next March, Bloomberg<\/a> quotes the company\u2019s Managing Director Bhaskar Phukan as saying. The biofuels plant is part of government plans to up its ethanol-gasoline mixing capacity to 20% by 2025 from the current 12% blending levels. The plant is being built by NRL, Finnish state-owned energy firm Fortum, and biorefinery tech company Chempolis at an INR 40 bn investment ticket (c. USD 480.5 mn), Reuters<\/a> reports. It is expected to have an annual production capacity of 50k tons of ethanol. The bamboo refinery will also have a 16k tons yearly generation volume of furfural<\/a> and an 11k ton acetic acid output.<\/p>\n

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EIB snaps up a portion of Valeo\u2019s maiden green bond: <\/strong>The European Investment Bank (EIB) purchased EUR 150 mn (c.USD 158 mn) of a EUR 600 mn green bond issuance by French automaker Valeo, according to a statement<\/a>. Valeo says it will channel proceeds from the 5.5 year green note issuance to develop green and low carbon technologies to accelerate the transition to net-zero sources and boost its green mobility portfolio as it works towards its 2050 carbon neutrality commitment. The company has identified around EUR 2 bn eligible clean energy tech projects it could funnel funds toward, including in renewables, energy efficiency, sustainable water and waste water management, and the circular economy.<\/p>\n

More to come? <\/strong>The EIB \u2014 which has pumped around EUR 750 mn in green financing for the auto sector since 2020 \u2014 plans to support up to EUR 1 tn of green investments in the bloc and is \u201cselectively assessing\u201d other investments under its new green bond purchase program, a company spokesperson told Bloomberg<\/a>.<\/p>\n

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