India-Brazil MoU on Bioenergy Cooperation gets Cabinet approval
Union Cabinet has given its approval for signing of Memorandum of Understanding (MoU) between Republic of India and Federative Republic of Brazil on Bioenergy Cooperation.
In 2016, during the meeting between Prime Minister Narendra Modi and President of Brazil in India, the two sides agreed to cooperate on research and development (R&D) of renewable energies, and in field of 2nd-generation biofuels. Therefore, in this regard, an MoU was also signed between two sides to provides a framework to cooperate as well as to promote investment in biofuel, bioelectricity and biogas supply-chains including industrial conversion, feedstock, distribution and end use sectors.
India-Brazil Energy Demand
Brazil is one of the most important trading partners of India in entire Latin America and Caribbean (LAC) region. Both countries are also major consumers of energy in world. Brazil is currently world’s 2nd largest producer and consumer of biofuels. Moreover, biofuels and bioelectricity accounts for 18% of Brazil’s energy mix. India having strong focus in area of bio-fuels, has set a target to achieve 20% blending of ethanol in petrol and 5% blending of biodiesel in diesel by 2030. For this purpose India has also announced new policy on Biofuels in 2018.
Category: International Current Affairs