Pradhan Mantri Jivan Yojana to be launched for renewable energy | Current Affairs, Current Affairs 2019

Pradhan Mantri Jivan Yojana to be launched for renewable energy

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The Cabinet Committee on Economic Affairs headed by Prime Minister Narendra Modi has approved the Pradhan Mantri JI-VAN (Jaiv Indhan- Vatavaran Anukool fasal awashesh Nivaran) Yojana for providing financial support to Integrated Bioethanol Projects using lignocellulosic biomass and other renewable feedstock.

The JI-VAN Yojana will be supported with total financial outlay of Rs.1969.50 crore for the period from 2018-19 to 2023-24. Out of scheme fund of Rs.1969.50 crore, Rs.1800 crore has been allocated for supporting 12 Commercial projects, Rs.150 crore has been allocated for supporting 10 demonstration Projects and remaining Rs.9.50 crore will be provided to Centre for High Technology (CHT) as administrative charges.

Under this Yojana, 12 Commercial Scale and 10 demonstration scale Second Generation (2G) ethanol Projects will be provided a Viability Gap Funding (VGF) support in two phases: a) Phase-I (2018-19 to 2022-23), wherein six commercial projects and five demonstration projects will be supported. b) Phase-II (2020-21 to 2023-24): wherein remaining six commercial projects and five demonstration projects will be supported. The scheme focuses to incentivise 2G Ethanol sector and support this nascent industry by creating a suitable ecosystem for setting up commercial projects and increasing Research & Development in this area. Apart from supplementing the targets envisaged by the Government under EBP programme, the scheme will also have the following benefits: a) Meeting Government of India vision of reducing import dependence by way of substituting fossil fuels with Biofuels. b) Achieving the GHG emissions reduction targets through progressive blending/ substitution of fossil fuels. c) Addressing environment concerns caused due to burning of biomass/ crop residues & improve health of citizens. d) Improving farmer income by providing them remunerative income for their otherwise waste agriculture residues. e) Creating rural & urban employment opportunities in 2G Ethanol projects and Biomass supply chain. f) Contributing to Swacch Bharat Mission by supporting the aggregation of non­food biofuel feedstocks such as waste biomass and urban waste. g) Indigenizing of Second Generation Biomass to Ethanol technologies.

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