BHUBANESWAR: HIF Global India, a subsidiary of HIF Latam of Chile, has expressed intent to invest around one billion USD in Odisha’s renewable energy sector.
A global leader in the field of methanol synthesis with presence in countries like the USA, Chile, Uruguay and Australia, the company is particularly interested in setting up a facility to produce electro fuel (e-fuel) to meet the growing demand of green energy across the world.
A delegation of the company led by senior advisor Rajesh Khanna on Tuesday made a presentation on e-fuel production to deputy chief minister-cum-Energy minister KV Singh Deo at Lok Seva Bhawan here. The company requested the state government to provide 50 acre land along with the water and electricity supply required for the proposed project.
Khanna said the company is ready to invest as per the regulations and policies laid out by the government. Welcoming the proposal of HIF Global, Singh Deo said, “Odisha is now 100 per cent investment-friendly. We are ready to provide all kinds of facilities as per the government guidelines.”
If implemented, the project is estimated to generate employment opportunities for over 250 people in the operational phase and another 500 people in the functional phase. Around 3.50 lakh tonne of e-methanol will be produced annually and the e-fuel will reduce carbon emission by 95 per cent, Singh Deo added.
“Electro fuel is produced through a process called synthesis by combining green hydrogen with carbon dioxide. E-methanol is chemically equivalent to conventional fossil fuels and compatible with existing engines and infrastructure. Electro fuel can be used as the final product (shipping fuel) or converted into other e-fuels like e-gasoline for cars or aeroplanes,” he added.
The meeting was attended by principal secretary, Energy Vishal Dev, IPICOL MD Bhupendra Singh Poonia and senior officials of Energy department.