Bharat Petroleum Corporation Ltd (BPCL) will set up 1 gigawatt (GW) of renewable energy capacity in Rajasthan as the nation's second-largest state oil refiner pivots its path to achieving a net zero emission target by 2040.
In a statement, BPCL said it has signed a memorandum of understanding (MoU) with the government of Rajasthan for setting up the renewable energy power plant. It, however, neither gave a timeframe nor investment that will be made in the project.
The company has set itself the ambitious goal of 'net zero' in Scope 1&2 emissions by 2040. It plans to expand its renewable portfolio to reach 1 GW of generating capacity by 2025 and 10 GW by 2040.
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"The MoU was signed between Bhaskar A Sawant, IAS, Principal Secretary, Department of Energy, Government of Rajasthan and Shelly Abraham, Head Renewable Energy, BPCL," the statement said.
BPCL operates three oil refineries in Mumbai, Kochi in Kerala and Bina in Madhya Pradesh, with a combined refining capacity of around 38 million tonnes. It also has over 20,000 petrol pumps and 6,100 LPG distributorships.
It has chalked out the plan to offer electric vehicle charging stations at around 7,000 petrol pumps over the next 5 years.
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