Hindustan Petroleum forms biofuels JV

India's Hindustan Petroleum Corp Limited (HPCL) has formed a biofuels joint venture with Chhattisgarh State Renewable Energy Development Agency (CSREDA). The joint venture, CSREDA-HPCL Biofuels Limited (CHBL), would cultivate tree-borne oil (TBO) plants such as jatropha curcas, which serve as feedstock for biodiesel.

HPCL would operate CHBL as its subsidiary with a 74% equity stake. The remaining 26% would be held by CSREDA, which would facilitate the acquisition of wasteland for raising plantations.

The JV would initially raise plantations with more than 15,000 hectares and sell all of its output to HPCL.

HPCL is already implementing pilot-scale projects for cultivating jatropha, producing biodiesel and sponsoring biodiesel trial usage in buses. HPCL is also implementing a research and development project for the production of biobutanol in collaboration with a research institution.

Last month, HPCL stated that it would form a JV with Shree Renuka Sugars Limited (SRSL) to produce ethanol directly from sugarcane juice.

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