Page 42 - Banking Finance December 2022

ARTICLE

Introduction: of our vision of India's energy future - energy access, energy
efficiency, energy sustainability and energy security.
India is among the fastest growing economy in the world
and its energy consumption is slated to increase rapidly.
Waste / Bio-mass sources like agricultural residue, cattle
According to the Ministry of Petroleum and Natural Gas
dung, sugarcane press mud, municipal solid waste and
(MoP&NG) estimates, India has a total reserve of 763 Million
sewage treatment plant waste, etc. produce biogas
Metric Ton (MMT) of crude oil and 1,488 Billion Cubic Meter
through the process of anaerobic decomposition. The biogas
(BCM) of natural gas. The country currently imports nearly
is purified to remove hydrogen sulphide (H2S), carbon dioxide
77% of its crude oil requirements and about 50% of natural
(CO2), water vapor and compressed as Compressed Biogas
gas requirement, leading the Government of India to set a
(CBG), which has methane (CH4) content of more than 90%.
target of reducing this import by at least 10%. Further, it
has set a target of increasing the contribution of gas in CBG has calorific value and other properties similar to CNG
India's energy mix from existing 6.5% (global average is and hence can be utilized as green renewable automotive
23.5%) to 15%. fuel. Thus, it can replace CNG in automotive, industrial and
commercial areas, given the abundance biomass availability
Hon'ble Prime Minister has given the following four pillars within the country.

Biogas:
About the author
Biogas is an energy-rich gas produced by anaerobic
Vikas Mahangare decomposition of biomass. It is produced from waste / bio-
Senior Manager- Faculty mass sources like agriculture residue, cattle dung, sugarcane
Union Bank of India press mud, municipal solid waste, sewage treatment plant
Staff Training Centre, Bhopal
waste, etc.

42 | 2023 | JANUARY | BANKING FINANCE