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Bharat Petroleum Eyes 240 MW Renewable Power Facilities

The company would reportedly set up solar and wind power farms in various states including Madhya Pradesh, Uttar Pradesh and Maharashtra.

April 20, 2023. By Anurima Mondal

Oil refining and marketing company Bharat Petroleum Corporation Ltd. (BPCL) aims to establish 240 MW of renewable power facilities. The company would reportedly set up solar and wind power farms in various states including Madhya Pradesh, Uttar Pradesh and Maharashtra.
 
According to the reports, the estimated cost of the project would be INR 1,600 crore. While 50 MW solar projects are under construction, the state-run company is initially aiming for a captive requirement for its refineries, which is 350 MW. 
 
A company spokesperson revealed that BPCL is looking for organic as well as in-organic opportunities and planning to target a bid for industry tenders in the future.
 
BPCL has previously accomplished various small solar projects. The Maharatna PSU, which is also a Fortune Global 500 company, now seems to be confident to undertake bigger projects and would be participating in renewable energy tenders going forward.
 
By 2040, Bharat Petroleum aims to offset emissions from refining operations as well as from the energy it uses.
 
The company has revealed its plans to increase its renewable energy portfolio from less than 50 MW today to 1 GW and 10 GW by 2025 and 2040 respectively. Earlier this year, BPCL announced the launch of 19 EV fast-charging stations at 110 fuel stations along 15 highways in Karnataka, Kerala and Tamil Nadu. 
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