Over ₹1 lakh crore investment expected in bioenergy sector in the next five years

Chairman of Karnataka State Bioenergy Development Board S.E. Sudheendra has said that in the next five years, more than one lakh crore rupees is expected to be invested in the bioenergy sector in the State which consequently will generate over three lakh direct and indirect jobs, increase in farmers income and also encourage young entrepreneurs.

He was inaugurating the Sadbhavana Diwas-Urja Diwas and World Biofuel Day celebrations organised jointly by the Mahatma Gandhi Rural Development and Panchayat Raj University and the Karnataka State Bioenergy Development Board in Gadag on Wednesday by planting biofuel saplings and filling vehicles with biodiesel.

Mr. Sudheendra said that the new bioenergy policy under the guidance of the Rural Development and Panchayat Raj Minister will bring about a major change in the State’s bioenergy sector and help in creating a conducive atmosphere for investors.

“The next five years will be very crucial in the development of the bioenergy sector in the State. Under the leadership of the Chief Minister, the State has already formulated and implemented several work plans to achieve the expected results in the field of renewable energies such as solar and wind energy and there is also interest in the development of the bioenergy sector at present. And, the new bioenergy policy will be a catalyst for the development of this sector,” he said.

Vice-Chancellor of the university Suresh V. Nadagoudar presided over the programme.

Deputy Conservator of Forest Santhosh Kumar Kenchappanavar, KSBDB Managing Director Shivashankar L. and others were present.