HPCL's Green Energy Expansion in Jhansi and Panipat
Key Ideas
- HPCL plans to invest INR 50,000 crore to achieve a 10 GW renewable energy portfolio by 2030.
- HPRGE, a subsidiary of HPCL, is focusing on green energy initiatives including solar power plants, green hydrogen, biofuels, and EV charging facilities.
- The company aims to provide captive green hydrogen to its three refineries and consolidate all green energy businesses under one umbrella.
- HPCL's expansion efforts include setting up solar power plants in Jhansi and Panipat, along with investing in biofuel and EV charging infrastructure.
Hindustan Petroleum Corporation Ltd (HPCL) is embarking on a significant green energy expansion in India. Through its subsidiary, HPCL Renewable and Green Energy Ltd (HPRGE), the company plans to invest INR 50,000 crore to achieve a renewable energy portfolio of 10 GW by 2030. This investment will focus on various green energy initiatives, including solar power plants, green hydrogen production, biofuels, EV charging facilities, carbon offsets, and green mobility solutions. HPRGE is currently setting up solar power plants in Jhansi, Uttar Pradesh (5 MW), and Panipat, Haryana (6 MW), with further exploration of opportunities in the green energy sector. The company aims to provide captive green hydrogen to its three refineries to support their operations. Additionally, HPCL is expanding its biofuel portfolio through ethanol plants and compressed biogas facilities. In the previous fiscal year, HPCL added 1,773 EV charging facilities, including battery swapping stations, bringing the total to 3,603 retail outlets with EV charging capabilities. These initiatives underline HPCL's commitment to sustainability and transitioning towards a greener energy landscape in the future.