New Delhi(NVI): The Union Cabinet today gave its approval for signing of Memorandum of Understanding (MoU) with Brazil on Bioenergy Cooperation.
The MoU provides a framework to cooperate and promote investment in biofuel, bioelectricity and biogas supply-chains, including feedstock, industrial conversion, distribution and end use sectors.
India and Brazil are major consumers of energy in the world and Brazil is one of the most important trading partners of India in the entire LAC (Latin America and Caribbean) region.
Brazil is currently the world’s second largest producer and consumer of biofuels and biofuels and bioelectricity accounted for 18% of Brazil’s energy mix.
India also has a strong focus in the area of bio-fuels and has set a target to achieve 20% blending of ethanol in petrol and 5% blending of biodiesel in diesel by 2030 with the announcement of new policy on Biofuels in 2018.
During the meeting between Prime Minister Narendra Modi and President of Brazil in India in 2016, the two sides had agreed to cooperate on research and development of renewable energies, as well as in the field of second-generation biofuels.
