BPCL’s ₹1.7 lakh crore project to reshape India’s energy future – EQ
In Short : Bharat Petroleum Corporation Limited (BPCL) has launched a massive ₹1.7 lakh crore project aimed at transforming India’s energy landscape. This ambitious initiative focuses on expanding the company’s presence in clean energy, enhancing refining capacity, and strengthening its infrastructure. BPCL’s project is set to play a significant role in reshaping the country’s energy future, aligning with India’s goals for sustainable development and energy security.
In Detail : BPCL is targeting net zero carbon emissions by 2040.
Bharat Petroleum Corporation Limited (BPCL) has announced a significant investment of ₹1.7 lakh crore over the next five years as part of its strategic initiative, ‘Project Aspire.’ The investment plan is designed to strengthen BPCL’s core businesses in oil refining and fuel marketing while expanding into new sectors like petrochemicals, gas, and green energy.
‘Project Aspire’ is centred around two key areas: ‘Nurturing the Core,’ which focuses on refining and marketing petroleum products, and ‘Investing in Future Big Bets,’ which targets growth in petrochemicals, green energy, and digital ventures. Major projects under this initiative include a ₹49,000 crore ethylene cracker facility at the Bina refinery in Madhya Pradesh, increasing refining capacity to 11 million tonnes by 2029, and a polypropylene project at the Kochi refinery, expected to be completed by 2027.
In line with its sustainability goals, BPCL aims to achieve net zero carbon emissions by 2040. The company plans to develop 2 GW of renewable energy capacity by 2025 and 10 GW by 2035, focusing on wind and solar projects. BPCL is also advancing in green hydrogen with a 5 MW electrolyser plant at the Bina refinery and is expanding its biofuel offerings with a 20% ethanol blend at over 4,000 retail outlets.
To support the electric vehicle (EV) transition, BPCL has already installed 3,000 EV charging stations and aims to equip 6,000 retail outlets with fast chargers across 400 highway corridors over the next five years.
