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Indian Oil and LanzaJet to set up India's first green aviation fuel firm

Thursday, 13 Apr 2023
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Indian Oil Corporation (IOCL) is planning to set up a joint venture (JV) with US-based clean energy technology company LanzaJet Inc, and domestic airlines for production of sustainable aviation fuel (SAF).

Through the proposed venture, a plant will be set up to make SAF with alcohol-to-jet technology at IOCL's Panipat refinery in Haryana at a cost of Rs 3,000 crore. The proposed plant will convert corn-based, cellulosic, or sugar-based ethanol into SAF, and would have an inital capacity to produce 85,000 tonne of fuel annually. SAF is a biofuel with properties similar to conventional jet fuel, but has a smaller carbon footprint.

In accordance with the devised structure of the new company, IOCL will hold 50 percent stake while LanzaJet Inc will hold 25 percent, while the remaining 25 percent stake is reserved for airline companies, wherein multiple airline companies could be offered between two to five percent stake. Further, the airlines are being roped in to ensure fuel offtake.

Some prominent airlines are evaluating the proposal, after a recent discussion organised by the government officials along with oil marketing companies (OMCs).

The Central government has identified aviation as one of the primary sectors to reduce emission, and is involving airlines, airports and ground handlers to take forward such initiatives. Also, Niti Aayog has suggested GST at 5 percent on SAF and informed that the government could waive charges like passenger fees and user development fees (charged by airports) for SAF-operated flights. 

 

 
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