BPCL Targets 240 MW Renewables Expansion This Fiscal

Delhi-Jalandhar Highway Sees Installation of 12 EV Chargers from BPCL

Public sector fuel marketing major Bharat Petroleum Corporation (BPCL) is mulling for the development of 240-MW of renewable power capacity this fiscal year of 2023-24. A senior official of BPCL held that the renewable expansion of the firm will be achieved at the cost of Rs 1600 crore. BPCL was in line for divestment by the government of India, but the process never quite moved ahead with limited buyer interest. Now, the PSU seems to be intent on making up for the time lost while it waited for suitors.

Sukhmal Jain, Director (Marketing), BPCL, said in a statement, “We will soon be setting up solar and wind power facilities. We have plans to set up 240-MW of solar and wind energy farms in Uttar Pradesh, Madhya Pradesh, and Maharashtra at an estimated cost of Rs 1600 crore.”

BPCL has informed that solar power projects of about 50 MW of capacity are already under construction at various facilities of the company. BPCL is also looking to meet the captive power requirement for its refineries initially. The total captive requirement of the firm stands at 350 MW.

Rays Power Infra to Build 1800-MW Solar Park In Rajasthan

Also Read

Sukhmal Jain said that BPCL is exploring organic and in-organic opportunities and the state-owned company will also bid for industry tenders going forward.

BPCL wants to expand its renewable energy portfolio from the current capacity of less than 50 MW to 1 GW by 2025. Jain held, “We undertook multiple solar projects of smaller size to gain experience. We are now confident to take up bigger projects and shall be participating in renewable energy tenders in the future,”

BPCL says that its committed to offset emissions from refining operations and from the energy it uses by 2040, referred to as Scope 1 and 2 emissions. Thus, it aims to scale up its renewable energy portfolio from less than 50 megawatts today to 1 gigawatt by 2025 and 10 gigawatts by 2040.

BPCL’s Major EV Charger Supply Project Goes to Servotech

Also Read

It recently signed an agreement with the Rajasthan Government under which BPCL will be establishing renewable projects worth 1 GW of capacity in the state. It also has an MoU with Solar Energy Corporation of India (SECI) to set up 10 GW of renewable energy capacity by 2040.

India’s largest private refiner, Reliance Industries has set a net zero target of 2035.