During the fiscal year 2023–2024, the public sector petroleum marketing firm Bharat Petroleum Corporation (BPCL) is thinking about building 240 MW of renewable power capacity. A senior BPCL official estimates that the cost of the company’s renewable growth will be Rs 16 billion. Due to a lack of interested buyers, the Indian government’s plan to sell BPCL was shelved. The PSU now seems committed to making up for the time lost while it awaited suitors.
In a statement, BPCL’s Director of Marketing Sukhmal Jain said, “We will soon be establishing solar and wind power facilities. In Uttar Pradesh, Madhya Pradesh, and Maharashtra, we intend to build 240 MW worth of solar and wind energy farms for an estimated Rs 16 billion. A 50 MW or so worth of solar power projects are already being built at various corporate facilities, according to BPCL. Additionally, BPCCL is attempting to initially meet the refineries’ captive power needs. The company needs 350 MW in total for captive energy. The state-owned company will continue to submit bids for industry contracts, according to Sukhmal Jain, who also said that BPCL is investigating organix and in-organic prospects.