TruAlt Bioenergy secures Rs 150 crore under PM JI‑VAN Yojana for SAF project

What TruAlt Bioenergy announced

TruAlt Bioenergy Limited disclosed on 18 June 2026 that it has received approval for Rs 150 crore financial assistance under the Government of India’s PM JI‑VAN Yojana. The assistance is earmarked for the company’s proposed commercial‑scale Sustainable Aviation Fuel (SAF) project, which is designed to produce 10 crore litres per annum of SAF.

The approval was granted by the Centre for High Technology (CHT), operating under the Ministry of Petroleum & Natural Gas (MoPNG). The company said the funding will incentivise approximately 7‑10 % of the project’s capital expenditure, improving the project's financial viability and accelerating the rollout of domestic SAF capacity.

Details of the financial assistance

• Scheme: PM JI‑VAN Yojana – a flagship initiative to promote advanced biofuels and low‑carbon fuel technologies.
• Assistance amount: Rs 150 crore (≈ US$ 180 million at prevailing rates).
• Disbursement: Funds will be released in accordance with predefined project milestones, as stipulated in the Memorandum of Agreement (MoA) to be signed with CHT.
• Coverage: The assistance is expected to fund 7‑10 % of the total capital required for the SAF facility.
• Project capacity: 10 crore litres of SAF per year, aligning with India’s SAF blending targets of 1 % by 2027, 2 % by 2028 and 5 % by 2030.

The press release notes that the SAF project will also support India’s commitments under the Carbon Offsetting and Reduction Scheme for International Aviation (CORSIA) and the broader national goal of achieving net‑zero emissions.

Project overview and strategic fit

TruAlt Bioenergy is already India’s largest ethanol producer, operating 2,000 KLPD of ethanol capacity and maintaining integrated operations across the biofuels value chain. The company has previously pioneered compressed biogas (CBG) under the SATAT scheme and holds Oil Marketing Company (OMC) status – a first for an Indian biofuels firm.

The new SAF facility will leverage TruAlt’s existing feedstock management expertise, renewable energy infrastructure, and large‑scale production know‑how. By converting agricultural residues and other renewable feedstocks into low‑carbon aviation fuel, the project aims to:

• Reduce dependence on imported fossil jet fuel.
• Create a domestic SAF ecosystem that can supply Indian airlines and export markets.
• Contribute to rural prosperity through demand for agricultural residues.
• Align with global aviation decarbonisation pathways.

Managing Director Vijay Nirani highlighted that the project represents a strategic move beyond ethanol, positioning TruAlt as a key player in the emerging low‑carbon aviation fuel market.

Key facts at a glance

Why this matters for investors

The approval of Rs 150 crore reduces the upfront capital burden on TruAlt, improving the project's internal rate of return and potentially accelerating construction timelines. Because the assistance is tied to milestones, the company will need to meet specific technical and regulatory checkpoints before each tranche is released, providing a clear roadmap for project execution.

For shareholders, the development diversifies TruAlt’s revenue base beyond ethanol and compressed biogas, exposing the firm to the higher‑margin SAF market. The SAF sector is expected to grow as Indian aviation authorities tighten blending mandates and international carbon‑offset regulations tighten. However, investors should note that the SAF plant is still in the pre‑commercial stage; commercial operations, revenue generation, and cash‑flow impact will materialise only after construction and commissioning are complete.

Conclusion

TruAlt Bioenergy’s receipt of Rs 150 crore under the PM JI‑VAN Yojana marks a concrete step toward establishing a 10 crore‑litre‑per‑annum Sustainable Aviation Fuel facility in India. The funding, covering roughly a tenth of the project’s capital, will be released against milestone achievements, aligning financial support with project progress. While the assistance strengthens the project's financial footing, the ultimate commercial outcomes will depend on successful execution, regulatory clearances, and market uptake of SAF in the coming years.

"This milestone represents far more than the development of a new facility; Sustainable Aviation Fuel will become an indispensable pillar of the future energy landscape," said Managing Director Vijay Nirani.