Following up on commitments made during the India Energy Week 2023, India’s Maharatna PSUs are walking the talk towards a more sustainable future. Indian Oil Corporation (IOC), Hindustan Petroleum Corporation Limited (HPCL), and Bharat Petroleum Corporation Limited (BPCL) are not only jumping on the green bandwagon set by Prime Minister Narendra Modi but are also putting their money where their mouth is by investing in projects that will change India’s energy basket scenario dramatically.
HPCL’s biogas plant HPCL has recently inaugurated a compressed biogas plant in Badaun, Uttar Pradesh. The plant can process 100 MTPD of rice straw, producing 14 MTPD of Compressed Biogas (CBG) and 65 MTPD of solid manure. The initiative will help reduce the country’s reliance on fossil fuels and align perfectly with the Government’s vision, standing out as a pioneering biomass-based initiative aimed at achieving a 20 per cent blending of ethanol in fossil fuels by 2030.By processing 100 MTPD of rice straw, the plant will not only help bring down stubble burning but it’ll also be cutting down 55,000 tonness of CO2 emissions each year. In the near future, HPCL has plans to set up 100 similar biogas plants in Uttar Pradesh.
IOC investment plans Indian Oil Corporation (IOC) has ambitious plans to invest $30 billion in green initiatives. At its 64th annual general meeting, IOC Chairman Shrikant Madhav Vaidya unveiled the company’s commitment to foray into the sustainable green energy market. A big part of this investment will go into high-tech research and development, all aimed at game-changing technologies.IOC is ambitiously pursuing meeting the 650-MW power requirement of its refineries using renewable energy by December 2024. The company’s unwavering dedication extends to achieving zero operational emissions by 2046, positioning it prominently in Bloomberg NEF’s 2023 Energy Transition Score.
By processing 100 MTPD of rice straw, the HPCL biogas plant will not only help bring down stubble burning but it’ll also be cutting down 55,000 tonness of CO2 emissions each year
BPCL’s big EV leap Bharat Petroleum Corporation Limited (BPCL) is ready to take a giant leap in the electric vehicle (EV) category. It aims to be at the forefront of the electric mobility revolution in the country. The company has secured a RS 120-crore order for 1,800 fast EV charging stations across India. Collaborating with Servotech Power Systems Ltd., BPCL aims to complete this project by the end of the year, facilitating a dynamic and accessible EV charging network.In sync with India’s big dreams in the e-mobility sector, BPCL is investing Rs 1 trillion between now and 2040. The company is eyeing green hydrogen, carbon capture, utilisation, and storage (CCUS). On top of that, it has an ambitious commitment to achieve 1 GW of renewable energy capacity by 2025 and a staggering 10 GW by 2040. Wind power plants, polypropylene projects, and infrastructure for natural gas sales are all part of the grand plan.
As these oil giants steer towards renewable energy, their concerted efforts signal a transformative era for India’s energy sector, aligning with global sustainability goals and positioning the country as a leader in green initiatives.
