BPCL's Ambitious Plans for Green Energy and Petrochemicals Expansion
Key Ideas
- BPCL plans to invest Rs 1.7 lakh crore in petrochemicals, green energy, gasoline marketing, and oil refining businesses over the next five years under 'Project Aspire'.
- The company is focusing on expanding its renewable energy capacity to 2 GW by 2025 and 10 GW by 2035, including investments in wind power and solar projects.
- BPCL is venturing into green hydrogen projects, developing EV charging infrastructure with plans for 4-wheeler fast chargers at 6,000 retail outlets, and promoting biofuels with ethanol blend petrol and compressed biogas plants.
- Establishing a corporate venture capital fund to support promising startups is part of the company's strategy for growth and innovation.
State-owned Bharat Petroleum Corporation Ltd (BPCL) has unveiled 'Project Aspire', a five-year strategic framework with a proposed investment of Rs 1.7 lakh crore. The project is divided into 'Nurturing the Core' and 'Investing in Future Big Bets', focusing on areas like refining, marketing, petrochemicals, green energy, and digital innovation. BPCL is embarking on petrochemical projects at its refineries, including a significant ethylene cracker project at the Bina refinery and a polypropylene project at the Kochi refinery. The company is also expanding its EV charging infrastructure, with plans for 4-wheeler fast chargers at 6,000 retail outlets and a network of over 3,000 EV charging stations. Moreover, BPCL is committed to developing renewable energy capacity, aiming for 2 GW by 2025 and 10 GW by 2035, with investments in wind and solar projects. The company is also delving into green hydrogen projects, biofuels, and compressed biogas plants. Additionally, BPCL is establishing a corporate venture capital fund to support startups in line with its growth and innovation objectives.
Topics
Green Hydrogen
Renewable Energy
Investment
Green Energy
Petrochemicals
Biofuels
EV Charging
Startup Investment
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