India Energy Week(IEW) 2023: In This Article, India Energy Week(IEW) 2023 we will read – Why India Energy Week 2023 In News?, About India Energy Week 2023, Key Events Related To India Energy Week 2023, What Is E20 Fuel?, What Is Ethanol Blending?, etc.
Context Of India Energy Week 2023
India Energy Week 2023 In News?
On February 06, 2023, PM Modi will visit Karnataka to inaugurate India Energy Week 2023.
India Energy Week 2023 Background
- To ensure smooth supply of green energy, the government has announced an allocation of ₹35,000 crore in the country’s 2023-24 Budget.
- The government is implementing many programmes for green fuel, green energy, green farming, green mobility, green buildings, and green equipment, and policies for efficient use of energy across various economic sectors.
About India Energy Week 2023
- Held Under? Held under the patronage of Ministry of Petroleum & Natural Gas, supported by the Federation of Indian Petroleum Industry (FIPI), managed by dmg events, India Energy Week is first major event under India’s G20 Presidency.
- Aim: The India Energy Week 2023 in Bengaluru, aimed at showcasing India’s rising prowess as an energy transition powerhouse.
- Timing: Taking place between 6 – 8 February 2023 at the Bangalore International Exhibition Centre (BIEC).
Significance Of India Energy Week 2023
- India Energy Week comes at a critical time, with the challenges of energy security and environmental sustainability impacting long-term energy transition, and paths towards decarbonisation.
- As India accelerates its efforts to become a gas-based economy and achieve a target of net-zero emissions by 2070, about $60 billion worth of investments are underway in the country in setting up the infrastructure – pipelines, terminals, regasification facilities and so on.
- As a rapidly developing country, and soon to be the world’s most populous nation, India’s energy transition will play a pivotal role in global energy markets.
Key Events During PM Modi’s Visit at India Energy Week 2023
- 3 Day Event: India Energy Week 2023, which is starting on Feb. 6 is the three-day event which will provide a platform to discuss the challenges and opportunities of India’s energy future.
- Participants: Over 30,000 delegates, 1,000 exhibitors, and 500 speakers are scheduled to attend the event.
- Roundtable Discussion: In addition, PM Modi will participate in a roundtable discussion with global oil and gas CEOs during the event and will also launch a number of initiatives in the green energy sector.
- E20 fuel: In line with the ethanol blending roadmap, Prime Minister will launch E20 fuel at 84 retail outlets of Oil Marketing Companies in 11 States/UTs.
- Green Mobility Rally: Prime Minister will also flag off the Green Mobility Rally. The rally will witness participation of vehicles running on green energy sources and will help create public awareness for the green fuels.
- Uniforms Made With PET bottles: Further, in a major effort to phase out the use of single-use plastic, during the event, Prime Minister Modi will also launch the uniforms adopted by Indian Oil for retail customer attendants and LPG delivery personnel. Notably, each set of uniform of Indian Oil’s customer attendant will support recycling of around 28 used PET bottles.
- Twin-Cooktop Model: Prime Minister will also dedicate the twin-cooktop model of the Indian Oil’s Indoor Solar Cooking System and flag-off its commercial roll-out.
- What Is Twin-Cooktop Model?: It is a revolutionary indoor solar cooking solution, developed by Indian Oil, that works on both solar and auxiliary energy sources simultaneously, making it a reliable cooking solution for India.
What Is E20 Fuel?
What Is E20 Fuel?
E20 is a blend of 20% ethanol with petrol. The government aims to achieve a complete 20% blending of ethanol by 2025, and oil marketing companies are setting up 2G-3G ethanol plants that will facilitate the progress.
E20 and GOI
- The ethanol blending programme has been a key focus areas of the government to achieve Aatmanirbharta in the field of energy.
- Due to the sustained efforts of the government, ethanol production capacity has seen a six times increase since 2013-14.
- The achievements in the course of last eight years under under Ethanol Blending Programe & Biofuels Programe have not only augmented India’s energy security but have also resulted in a host of other benefits including reduction of 318 Lakh Metric Tonnes of CO2 emissions and foreign exchange savings of around Rs 54,000 crore.
- As a result, there has been payment of around Rs 81,800 crore towards ethanol supplies during 2014 to 2022 and transfer of more than Rs 49,000 crore to farmers.