TruAlt Bioenergy Ltd. received financial assistance worth Rs 150 crore for its commercial-scale Sustainable Aviation Fuel project at Bagalkot, Karnataka, according to a press release from the company on Thursday.
The financial assistance is part of the government's PM JI-VAN Yojana (Jaiv Indhan–Vatavaran Anukool Fasal Awashesh Nivaran) scheme, which aims to ramp up the commercialisation of advanced biofuels.
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The firm also received approval for Centre for High Technology (CHT) under the Ministry of Petroleum & Natural Gas (MoPNG).
"At TruAlt, we are committed to building globally competitive, indigenous solutions that strengthen India's energy security while advancing climate goals," Vijay Nirani, managing director of TruAlt Bioenergy said.
"We are grateful to the Government of India for its continued support in fostering innovation and enabling the commercialisation of next-generation biofuels. Together, we have the opportunity to position India as a global hub for sustainable fuels and clean energy technologies," he added.
The financial assistance is set to incentivise close to 7–10% of the project's capital expenditure. The proposed Sustainable Aviation Fuel (SAF) facility will have a planned production capacity of 10 crore litres per annum.
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The release said that the project is expected to drive down the country's dependence on imported fossil fuels and consolidate indigenous production of low-carbon aviation fuels along with contribute to the creation of a domestic SAF industry.
The facility is strategically aligned with the global aviation sector's decarbonisation roadmap under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and India's announced SAF blending targets of 1% by 2027, 2% by 2028, and 5% by 2030, the release said.
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