BPCL inks agreement with Rajasthan govt for setting up 1 GW renewable energy plant

27 Jan 2023 , 02:27 PM

Bharat Petroleum Corporation Limited (BPCL), has signed a Memorandum of Understanding (MoU) agreement with the state of Rajasthan Government to set up a 1 GW Renewable Energy Power plant.

The MoU was signed between Bhaskar A. Sawant, IAS, Principal Secretary, Department of Energy, Government of Rajasthan and Shelly Abraham, Head Renewable Energy, BPCL, in a ceremony organized by the Bureau of Investment Promotion, Government of Rajasthan.

Moving towards , company’s goal of  ‘Net Zero’ by the year 2040, BPCL plans to expand their renewables portfolio and reach 1 GW of renewable energy by 2025 and 10 GW by 2040.

“BPCL’s ‘Renewables’ business unit is steering this voyage to help the global efforts to curb global warming, in line with the national climate commitments, and renewable energy has a pivotal role to play in this endeavor. The company is also accelerating biofuels in this pursuit. They are presently blending 10% Ethanol in Petrol, with a target to reach 20% blending by 2025-26”, the company said in a statement.

At around 12:46 PM, BPCL was trading at Rs332.55 per share lower by 4.05% on the BSE.

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