Page 150 - CW E-Magazine (20-8-2024)

Top Stories Top Stories

ENABLING DECARBONISATION In 2023-24, the fi rm commissioned By 2030, our aim is to achieve an index of hydrogen transportation, biofuels, electric
the fi rst phase of naphtha cracker expan- 15% and expand the petrochemical capa- mobility, solar cooktops and minimising
Government mulls mission on Carbon Capture sion and PX-PTA revamp project in city to 14-mtpa,” he said. water footprint. “Our endeavours during
Panipat, Haryana and ethylene glycol the past year vividly illustrate our commit-
Utilisation & Storage plant at Paradip. “These have propelled Alongside, it will pursue green ment to achieving operational net-zero by
our petrochemical intensity index to 6.1%. initiatives, including hydrogen mobility, 2046,” Mr. Vaidya said.
The government is looking at intro- gen, batteries (EV) and electrolysers. taxing mechanism, carbon trading and
ducing a mission that will not just pro- That day is not away when a CCUS also subsidies in terms of Production ENERGY TRANSITION
mote Carbon Capture Utilisation and mission may also be launched.” Linked Incentive (PLI) can be provided
Storage (CCUS) technologies but will by reducing the carbon footprint in ‘Renewable energy investments touch Rs. 7 lakh-crore
also work with the industry and aca- Push for decarbonisation every business. So, both technology
demia to create a roadmap for develop- CCUS is a critical push for decar- development, setting up pilot plants, and in 10 years’
ing an India-specifi c ecosystem. It is bonisation as industrial applications making the incentives are available for
expected to offer subsidies, incentives are hard to electrify and industrial CO 2 the emitters,” he added. India’s renewable energy sector has Mr. Joshi added that the government India’s installed solar energy capacity
like the Viability Gap Funding (VGF) emissions are hard to abate due to the received investments of about Rs. 7-trillion plans to set up 13,000-MW renewable increased from 2.82-GW in March 2014 to
and tax rebates to encourage companies use of fossil fuels. Dr. Saraswat said that one of the key between 2013-2014 and 2022-23, accor- capacity, including 9,000-MW of solar 85.47-GW in June 2024, and the installed
to create India-specifi c technologies elements of the mission mode approach ding to Mr. Pralhad Joshi, Union Minister and 4,000-MW of wind energy, along wind energy capacity from 21.04-GW to
and develop an ecosystem for CCUS. Speaking to reporters on the side- would be to support setting up of pilot for New and Renewable Energy. with a 12,000-MWh battery energy 46.66-GW, he said.
NITI Aayog, Power Ministry and Prin- lines of an event organised by the plants the size of 500 tonnes per day. storage system in Ladakh.
cipal Scientifi c Adviser to the Govern- American Chamber of Commerce in During a discussion in the Rajya Sabha, Total renewable energy generation
ment of India are chalking out a plan. India (AMCHAM), Dr. Saraswat empha- NITI Aayog in its November 2022 Mr. Joshi said the way forward for the Since 2014, India’s installed rene- in India has increased from 193.50 billion
sised the need for India to have a mis- report had said that CCUS is the only renewable energy sector was to address wable energy capacity has increased units (BU) in 2013-14 to 359.89 BU in
NITI Aayog Member, Dr. V.K. sion mode approach to develop CCUS. known technology for decarbonising present challenges as well as leverage by 165%, from 76.38-GW in 2014 to 2023-24, with an increase of 86%, while
Saraswat said, “Mission CCUS is very “The Government of India and we hard-to-electrify and CO -intensive opportunities for growth. “I am confi - 203.1-GW. the solar power tariff has come down
2
important and Government of India is (NITI Aayog) are proposing to launch sectors such as steel, cement, oil & gas, dent that by addressing these areas, from Rs. 10.95 per unit in 2010-11 to
looking into it so that we can replicate a CCUS approach in which different petrochemicals & chemicals, and India can and will achieve its ambitious “For the fi rst time ever in the country, Rs. 2.60 in 2023-24, the minister added.
what we have done with (green) hydro- VGF and carbon pricing mechanism, fertilisers. renewable energy targets,” he said. we have crossed 200-GW capacity from
non-fossil fuel sources. That includes “India has achieved fourth position
LOOKING AHEAD India aims to increase its non-fossil 85.47-GW of solar power, 46.93-GW of globally in renewable energy installed

IOC to raise refi ning capacity by 25%: Chairman energy capacity to 500-GW by 2030, up large hydro, 46.66-GW of wind power, capacity. We stood fourth in wind power
from the current installed renewable 10.95-GW of bio power, and 5.00-GW capacity and fi fth in solar photovoltaic
State-owned Indian Oil Corporation city from 70.25-mtpa to 88-mtpa, while Petchem plans energy capacity of about 180.79-GW. small hydro power,” Mr. Joshi said. capacity,” Mr. Joshi said.
(IOC) plans to raise oil refi ning capacity scaling up both convention and non-con- Besides expanding oil refi ning capa- CHANGE OF GUARD
by a quarter to meet rising energy needs of ventional energy options,” he said address- city, it will invest in petrochemical units
India, according to its Chairman, Mr. S.M. ing shareholders at the company’s annual that will convert crude oil into value-added Dhanuka Agritech Chairman, R.G. Agarwal, steps down
Vaidya. general meeting recently. The nation’s chemicals directly, while also increasing its
largest oil fi rm is targeting to become a focus on gas, biofuels and clean mobility. Agrochemicals firm, Dhanuka Kumar Dhanuka has become the new Dhanuka was Joint Managing Direc-
The fi rm, which has nine refi neries to $1-trillion company by 2047, combining Agritech, has announced a change in Chairman and Mr. Rahul Dhanuka is tor. Mr. R.G. Agarwal will continue
convert crude oil into fuels like petrol and growth in traditional oil refi ning and fuel “We are also integrating petrochemi- company leadership after its Founder the Managing Director. Till the change to function as Chairman Emeritus, the
diesel, 20,000-km of pipelines to trans- marketing with clean energy avenues like cals into our refi ning operations. This oil- Chairman Mr. R.G. Agarwal decided in leadership, Mr. M.K. Dhanuka was company said in a statement. These
port oil and fuel, 99 LPG bottling plants, green hydrogen and EV charging. to-chemical approach will enrich our value to step down on attaining 75 years. functioning as Vice Chairman and MD appointments are subject to sharehol-
129 aviation fuel stations and over 61,000 chain, meet rising petrochemical demand, Agarwal’s brother Mr. Mahendra and Mr. R.G. Agarwal’s son Mr. Rahul ders’ approval, it added.
customer touchpoints like petrol pumps IOC posted a record net profi t of reduce import reliance, and insulate the
and LPG agencies, is aiming to meet one- Rs. 39,619-crore ($4.7-bn) on a revenue of bottom line from the impacts of oil price Best Agrolife receives patent for fungicide innovation
eighth of India’s energy needs by 2050, Rs. 8.66 lakh-crore ($104.6-bn) in 2023-24. fl uctuations,” he said.
he said. Best Agrolife Group said it has been “The novel combination of Trifl oxys- tomato and potato crops, protecting them
The company will continue to invest IOC is investing over Rs. 61,000-crore granted a patent for a fungicide formula- trobin and Valifenalate marks a break- from early and late blight. Additionally,
India’s oil demand is likely to surge in fossil fuels and new energy avenues to in setting up a mega petrochemical tion combining Trifl oxystrobin and Vali- through in crop protection. This inno- it provides exceptional defence against
from 5.4-mbpd (million barrels per day) in have a balanced portfolio that will help complex in Paradip, Odisha. “This and fenalate. While the group has several ter- vative fungicide offers farmers a highly downy mildew in grapes, onions, and
2023 to 8.3-mbpd by 2050. “To meet this achieve net-zero carbon emissions by the other petrochemical projects will nary patents, this is the fi rst-ever binary effective solution against harmful fungal cucurbits, even at low doses,” the company
rise, we aim to increase our refi ning capa- 2046, Mr. Vaidya said. be a game changer for us,” he said. patent that Best Agrolife has received. diseases. It is particularly benefi cial for informed in a press note.

150 Chemical Weekly August 20, 2024 Chemical Weekly August 20, 2024 151

Contents Index to Advertisers Index to Products Advertised