BPCL is planning to set up a 240 MW of renewable power capacity at the cost of Rs 600 crore this fiscal, a senior company official said
Mumbai : State-owned Bharat Petroleum Corporation (BPCL) is planning to set up a 240-MW of renewable power capacity at the cost of Rs 600 crore this fiscal, a senior company official said. “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 600 crore,” said Sukhmal Jain, Director (Marketing), BPCL.
50 MW solar projects are already under construction at BPCL’s facilities
Approximately, 50 MW solar projects are already under construction at BPCL’s facilities. The company is targeting a captive requirement for its refineries first, which is approximately 350 MW. Jain added that BPCL is exploring organic and in-organic opportunities. The company Is planning to target a bid for industry tenders captive going forward.
BPCL aims to scale up its RE portfolio from less than 50 MW to 1 GW by 2025
“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,” Jain said. BPCL has committed to offsetting 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.
Source: PTI
