HPCL's Rs. 3,771 Crore Investment and Green Hydrogen Initiatives
Key Ideas
- HPCL invested Rs. 3,771 crore in Q2FY25 to enhance its refining and marketing infrastructure, totaling investments of Rs. 6,588 crore in April-September 2024.
- The Visakh Refinery of Hindustan Petroleum is set to be the first Green Hydrogen Plant in an Indian refinery, producing 370 tonnes of Green Hydrogen annually.
- HPCL signed agreements with Mumbai Port Authorities and Mumbai Port Sustainability Foundation to develop a Green Fuel Ecosystem at the port.
- HPCL's subsidiary, HPCL Renewable & Green Energy Ltd., collaborated with MAHAGENCO Renewable Energy Limited on Green Hydrogen and Renewable Energy initiatives.
Hindustan Petroleum Corporation Limited (HPCL) made a significant investment of Rs. 3,771 crore in the second quarter of fiscal year 2025 to bolster its refining and marketing infrastructure, as detailed in an exchange filing. This investment was part of a larger effort that saw HPCL's total investments reach Rs. 6,588 crore in the period from April to September 2024. Notably, HPCL's Visakh Refinery is on track to become the first Green Hydrogen Plant in an Indian refinery, with the capacity to generate 370 tonnes of Green Hydrogen annually through renewable energy sources. Additionally, the refinery has started utilizing 3 megawatts of green power from local distribution sources. Furthermore, HPCL entered into strategic agreements with the Mumbai Port Authorities and the Mumbai Port Sustainability Foundation to establish a Green Fuel Ecosystem at the port. Moreover, its subsidiary, HPCL Renewable & Green Energy Ltd., partnered with MAHAGENCO Renewable Energy Limited for collaborative efforts in the domains of Green Hydrogen and Renewable Energy. These developments underline HPCL's commitment to sustainability and green initiatives in its operations.