Abstract
Bio-fuels have received prime focus of these efforts. First and second generation biofuels were unsuccessful due to extensive cropping land and water requirements. Presently, microalgae has been considered as the source of third generation biofuels as it can be produced on large scale without any detrimental impact on environment and arrest carbon emissions as well. For ensuring cost effective and sustainable production of microalgae, wastewater generated from municipal, agricultural and industrial activities may be considered as a potential medium for algal growth. The present study focuses on the simultaneous wastewater treatment and biofuel generating potentials of microalgae as well as advantages and disadvantages of the same. This review also discusses possibilities of rendering microalgal biodiesel production economically more beneficial than petro diesel and highlights the future perspectives by compiling initiatives taken so far.
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