ADB approves $2.5 million technical assistance for advanced biofuel development in India

The Asian Development Bank (ADB) has approved a $2.5 million (about Rs 180 million) technical assistance to support advanced biofuel development in India. The grant is funded by the Asia Clean Energy Fund, financed by the Japanese government under the Clean Energy Financing Partnership Facility and the Republic of Korea’s e-Asia and Knowledge Partnership Fund. The technical assistance will support development of advanced bioethanol, bio-compressed natural gas and biodiesel plants to demonstrate best practices for suitable feedstock, efficient conversion technology and a sustainable biofuel value chain. To boost advanced biofuel investments, ADB will collaborate with the Ministry of Petroleum and Natural Gas (MoPNG), the Oil Industry Development Board and public financial institutions, such as the Indian Renewable Energy Development Agency and the National Bank for Agriculture and Rural Development.