BPCL, SECI sign MoU to set up 10 GW renewable energy capacity by 2040

Bharat Petroleum Corporation Limited (BPCL) announced the signing of an MoU with the Solar Energy Corporation of India (SECI) to build 10 GW of renewable energy capacity by 2040. BPCL and SECI will collaborate to develop business prospects in the renewable energy sector, including solar, wind, electric mobility, hydrogen, and waste-to-energy. Furthermore, both companies will act as a catalyst to accelerate the BPCL’s journey to net-zero emissions in Scope 1 and Scope 2. By 2025, BPCL plans to have a 1 GW renewable energy portfolio.

With a presence in both the upstream and downstream sectors of the oil and gas industry, BPCL is the country’s second-largest oil marketing firm, refining crude oil and marketing petroleum products. India aims to reach 175 GW of renewable energy capacity by December 2022 and 500 GW of non-fossil energy capacity by 2030.

In December 2021, BPCL partnered with Bhabha Atomic Research Centre to scale up Alkaline Electrolyser technology – which is currently being imported -for the generation of green hydrogen.  This is a key partnership aimed at assisting the country in achieving its renewable energy targets and reducing greenhouse gas emissions.

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