Bhopal: Chief minister Mohan Yadav said on Thursday that the Biofuel Scheme-2025 will be a key highlight at the Global Investors' Summit scheduled to be held in Bhopal on Feb 24-25, 2025.
He further stated that the scheme aligns with the core principles of Prime Minister Narendra Modi's "Lifestyle for Environment" (LiFE) initiative, which emphasises sustainable development while promoting responsible consumption and production. This scheme will harness the agricultural strength of the state and encourage innovation. Along with ensuring a green and prosperous future for citizens, it will create direct and indirect employment across various levels of the biofuel manufacturing units, bio-energy plants, feedstock production, and supply chain in the state. The scheme will help meet the state's energy demands while maintaining environmental balance and accelerating industrial development.
Yadav said that the "Biofuel Scheme-2025" is a revolutionary initiative for the state's economic prosperity, green energy production, and employment generation. Under the leadership of Prime Minister Modi, India is achieving new heights in sustainable development and renewable energy. Inspired by his vision, the Madhya Pradesh govt is formulating policies that are environmentally sustainable in the long term and foster employment generation. This scheme ensures the effective utilisation of agricultural and organic waste, enabling the production of eco-friendly fuel and making the state self-reliant in green energy. Taking a historic step towards renewable energy and sustainable development, the "Biofuel Scheme-2025" was approved by the state cabinet.
Under this scheme, the state govt has decided to provide land allocation, investment incentives, infrastructure development support, and tax benefits for establishing biofuel production plants. This will boost local entrepreneurship, provide additional income opportunities for farmers, and encourage industrial investment in the state. Several incentives such as basic investment support, infrastructure grants, and electricity tariff concessions are being offered to biofuel units, aiming to establish Madhya Pradesh as a leading hub for biofuel production. This initiative will strengthen the rural economy and accelerate the development of environmentally friendly industries.
Yadav announced that the Biofuel Scheme will be a key highlight at the Global Investors' Summit scheduled to be held in Bhopal on February 24-25, 2025. The summit will bring together investors, industry leaders, and policymakers from India and abroad. The Global Investors' Summit will serve as a platform to attract investments in biofuel and green energy, opening up new opportunities for sustainable development, investment, and job creation in the state.
Yadav pointed out that the Biofuel Scheme primarily includes bio-CNG, biomass briquettes & pellets, and biodiesel. It covers all aspects of biofuel production, including feedstock cultivation, production technology, distribution, and utilisation. The scheme provides several benefits to biofuel manufacturing units and bio-energy plants, along with subsidies for farmers' cooperatives for agricultural equipment. Additionally, it ensures the sale of biomass and fertilisers and includes provisions for developing a strong supply chain. Land allocation for biofuel production plants will be prioritised, and govt land for biomass production will be provided at 10% of the collector rate as an annual fee.
The chief minister announced that biofuel units will receive up to Rs 200 crore as Basic Investment Promotion Assistance (BIPA) under the scheme. Additionally, a 50% incentive (up to a maximum of Rs 5 crore) will be provided for the development of electricity, water, gas pipelines, roads, drainage, waste management systems (ETP, STP, pollution control equipment), and other infrastructure. A 10-year exemption on electricity duty and energy development surcharge will be granted. Furthermore, the department of industrial policy and investment promotion will offer customised packages for investments exceeding Rs 500 crore. The scheme also includes support for Intellectual Property Rights (IPR) and quality control assistance.
