Business News | India's Decarbonization Gets a Push as Govt Awards Incentives to New Era Cleantech & Coal India JVs for Coal Gasification
Get latest articles and stories on Business at LatestLY. New Delhi [India], December 12: New Era Cleantech Solutions Private Limited is thrilled to receive a letter of award for a Financial Incentive from the Ministry of Coal, Government of India, under Category III of the Financial Incentive Scheme for its groundbreaking Coal Gasification and Carbon Capture Utilization (CCU) project. This transformative initiative will be India's first and largest commercial-scale gasification and CCU project, targeting net-zero emissions by capturing 100% of CO2 emissions generated during the gasification process. The Ministry of Coal launched the Rs8,500 crore Financial Incentive Scheme, approved by the Cabinet, to promote Coal/Lignite Gasification Projects. This is a crucial step towards India's target of gasifying 100 million tonnes of coal by 2030.
VMPL
New Delhi [India], December 12: New Era Cleantech Solutions Private Limited is thrilled to receive a letter of award for a Financial Incentive from the Ministry of Coal, Government of India, under Category III of the Financial Incentive Scheme for its groundbreaking Coal Gasification and Carbon Capture Utilization (CCU) project. This transformative initiative will be India's first and largest commercial-scale gasification and CCU project, targeting net-zero emissions by capturing 100% of CO2 emissions generated during the gasification process. The Ministry of Coal launched the Rs8,500 crore Financial Incentive Scheme, approved by the Cabinet, to promote Coal/Lignite Gasification Projects. This is a crucial step towards India's target of gasifying 100 million tonnes of coal by 2030.
The Ministry of Coal has been instrumental in driving innovation and sustainability in the energy sector by offering financial incentives for coal gasification projects with commitment to promoting clean energy solutions and sustainable industrial growth.
Also, in Category I (large-scale PSU projects) of the Financial Incentive support is awarded to 3 Government PSUs / JVs of Government PSUs namely Bharat Coal Gasification and Chemicals Limited, Coal India Limited (for CIL - GAIL Consortium) and Coal India Limited.
Balasaheb Darade, Founder and Managing Director of New Era Cleantech Solutions, expressed gratitude and emphasized the project's transformative potential:" This is a monumental achievement for India's sustainability and energy security goals. By combining gasification with advanced decarbonization technologies, we aim to produce high-value chemicals such as ethanol, Sustainable Aviation Fuels (SAF) while drastically reducing carbon emissions. We are deeply thankful to the Ministry of Coal and Government of India for their trust and unwavering support as we work toward realizing this visionary project."
This landmark project establishes New Era Cleantech Solutions as a leader in coal gasification and carbon capture technologies. It aligns with India's climate sustainability and energy transition goals, supporting economic development while prioritizing environmental stewardship. By producing high-value chemicals like ethanol, SAF, the project will enhance domestic energy security and reduce reliance on imports.
About New Era Cleantech Solutions
New Era Cleantech Solutions is advancing India's vision of "Aatmanirbhar Bharat" (Self-Reliant India) by leading the energy transition with cost-effective, sustainable, and scalable innovations. This initiative supports the National Mission on Coal Gasification, Green Hydrogen, CCUS (Carbon Capture Utilization and Storage), and the decarbonization of hard-to-abate sectors.
The company is spearheading a groundbreaking initiative to establish India's first greenfield "Blue (low carbon) Refinery." With a $3 billion investment over the next decade, this project will be developed on a 1,650-acre industrial site in Chandrapur, Maharashtra. The facility will integrate gasification and CCU technologies to convert 5 million metric tons per annum (MMTPA) of coal into high-value chemicals, including hydrogen, methanol, ethanol, di-methyl ether (DME), ammonium nitrate, and acetic acid--contributing to a circular economy on an industrial scale.
References:
Ministry of Coal Announces Selected Applicants under Category-I & III of Financial Incentive Scheme, Advancing India's Coal Gasification Vision
https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2079799
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