TruAlt Bioenergy gets ₹150 Cr approval for SAF project under PM JI-VAN Yojana
TruAlt Bioenergy received approval for ₹150 crore financial assistance under PM JI-VAN Yojana for its Sustainable Aviation Fuel (SAF) project in Bagalkot, Karnataka. The project aims for a production capacity of 10 crore litres per annum. This funding supports India's energy transition and decarbonization goals.
The ₹150 crore financial assistance under a government scheme for a Sustainable Aviation Fuel project is a material development that is expected to significantly impact the company's growth and strategic positioning in the advanced biofuels sector.
The announcement details a significant financial assistance approval for a key project, which is positive for the company's strategic expansion and aligns with national sustainability goals.
TruAlt Bioenergy Limited has received approval for financial assistance of ₹150 crore under the Government of India's PM JI-VAN Yojana for its proposed commercial-scale Sustainable Aviation Fuel (SAF) project at Bagalkot, Karnataka. The approval was granted by the Centre for High Technology (CHT) under the Ministry of Petroleum & Natural Gas (MoPNG).
This financial assistance is expected to cover approximately 7-10% of the project's capital expenditure, aiming to enhance project viability and boost domestic SAF production capacity. The PM JI-VAN Yojana is designed to accelerate the commercialization of advanced biofuels, promote technological innovation, and utilize renewable feedstocks.
The SAF facility will have a planned production capacity of 10 crore litres per annum and is intended to support India's energy transition and aviation decarbonization goals. It aims to reduce dependence on imported fossil fuels and aligns with India's SAF blending targets (1% by 2027, 2% by 2028, 5% by 2030) and the global CORSIA roadmap.
Mr. Vijay Nirani, Managing Director, TruAlt Bioenergy Limited, stated that the company is committed to building globally competitive, indigenous solutions for India's energy security and climate goals. The financial assistance will be disbursed based on project milestones and the terms of a Memorandum of Agreement with CHT.
TruAlt Bioenergy, India's largest ethanol producer, is expanding its portfolio to include SAF and other future fuels, leveraging its expertise in biofuels production and renewable energy operations.
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