India-based process technology provider Praj Industries Ltd (BOM:522205) is launching a Green Fund aimed at accelerating second-generation ethanol projects across the country, it said earlier this month.

The company will provide the technology and build second-generation ethanol plants, while also offering operation and maintenance (O&M) service. According to the announcement, it is ready to execute second-generation ethanol projects worth INR 25 billion-30 billion (USD 372m-447m) in two years.

Praj says that in addition to supporting sustainability and reducing carbon-dioxide emissions, its model will help farming communities generate additional revenues. Second-generation ethanol is produced from biomass, including agricultural residues such as bagasse, corn cobs, rice and wheat straw, cotton stalk, or empty fruit bunches.

“In order to accomplish 20% ethanol blending program set up by the government, the OMCs