Bharat Petroleum Corporation (BPCL) has collaborated with Solar Energy Corporation of India (SECI) to install 10 gigawatts (GW) of renewable energy capacity by 2040.
see photosOfficials of Bharat Petroleum Corporation (BPCL) and Solar Energy Corporation of India (SECI) sign MoU
Bharat Petroleum Corporation (BPCL) has announced signing of MoU with Solar Energy Corporation of India (SECI) to install 10 gigawatt (GW) renewable energy capacity by 2040. This MoU has been signed by Amit Garg, Head of RE Business. BPCL and in the presence of Sanjay Sharma, Executive Director, SECI, Head, Corporate Strategy (BPCL) and Managing Director (SECI). The fuel retailer will start by installing a 1 GW renewable energy portfolio by 2025.
The company did not disclose the quantum of investment being planned for the collaboration. However, it said the two companies will jointly pursue business opportunities in renewable energy sectors such as solar, wind, electric mobility, hydrogen and waste-to-energy segments.
The MoU was signed by Amit Garg, Head of RE Business, BPCL and Sanjay Sharma, Executive Director, SECI.
AK Singh, Chairman and Managing Director, BPCL said, “This collaboration is a new area of engagement for our company, and will act as a catalyst to accelerate our journey towards net-zero in Scope 1 and Scope 2 emissions. BPCL aspires to have a portfolio of 1 GW of renewable energy by 2025 and 10 GW by 2040. Leveraging SECI’s skill and knowledge base will go a long way in achieving these goals.”
Suman Sharma, Managing Director, SECI said, “SECI is delighted to associate with BPCL in this path-breaking initiative that will open new avenues for sustainable development, a step towards energy security and take India to a new frontier of technology and scale. We are dedicated to fulfilling India’s commitments to a carbon neutral economy and look forward to an ongoing partnership.”
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India has a target of 175 GW of renewable energy capacity, including solar and wind power, by 2022, and aims to increase this to 450 GW by 2030. BPCL, the country’s second largest oil marketing company, had earlier announced a roadmap to expand its portfolio. Renewable energy with solar, wind and biofuels. It aims to achieve net zero in Scope 1 and Scope 2 emissions by 2040.
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