+
BPCL's $ 18.16 bn outlay for oil and green energy in 5 years
OIL & GAS

BPCL's $ 18.16 bn outlay for oil and green energy in 5 years

Indian refiner Bharat Petroleum Corp plans to allocate $18.16 billion over the course of five years with the intention of expanding its oil business and extending its renewable energy portfolio, in accordance with a 2040 net zero objectives, as articulated by G Krishnakumar, Chairman, BPCL.

In India, the world's third largest emitter of greenhouse gases, endeavours by corporations to curtail their emissions involve substantial investments. Simultaneously, these companies are directing their resources towards fossil fuels due to the anticipation of heightened petrochemical and fuel demand driven by India's economic growth.

The nation has established the objective of achieving net zero emissions by 2070. Although numerous Western nations have established comparable mid-century goals for attaining net zero emissions, the viability of certain decarbonisation strategies has been imperilled by political pressures.

During an annual shareholders meeting, Krishnakumar stated, "The company has outlined a planned capex expenditure of roughly Rs 1.5 trillion within the upcoming five years. This strategy will empower BPCL to generate enduring value for our stakeholders, all the while safeguarding our planet for the well-being of future generations."

He refrained from specifying the distribution of funds between the core oil business and clean energy initiatives.

Krishnakumar did articulate that BPCL intends to invest Rs 1 trillion by 2040 in various projects, encompassing green hydrogen, carbon capture, utilisation, and storage (CCUS), as well as enhancements in energy efficiency for emission reduction.

With aspirations of possessing 1 GW of renewable energy capacity by 2025 and an ambitious 10 GW by 2040, the company is committed to growth in the renewable energy sector.

Furthermore, an investment of 10 billion rupees has been earmarked for the establishment of 50 MW of captive wind power plants. These installations will cater to the energy needs of BPCL's Mumbai refinery, which has a capacity of 240,000 barrels per day (bpd), as well as the Bina refinery located in central India.

Also read:

ADB funds Rs 1.2 billion loan for Fourth Partner Energy

Kerala power minister adopts alternative smart metre model

Indian refiner Bharat Petroleum Corp plans to allocate $18.16 billion over the course of five years with the intention of expanding its oil business and extending its renewable energy portfolio, in accordance with a 2040 net zero objectives, as articulated by G Krishnakumar, Chairman, BPCL.In India, the world's third largest emitter of greenhouse gases, endeavours by corporations to curtail their emissions involve substantial investments. Simultaneously, these companies are directing their resources towards fossil fuels due to the anticipation of heightened petrochemical and fuel demand driven by India's economic growth.The nation has established the objective of achieving net zero emissions by 2070. Although numerous Western nations have established comparable mid-century goals for attaining net zero emissions, the viability of certain decarbonisation strategies has been imperilled by political pressures.During an annual shareholders meeting, Krishnakumar stated, The company has outlined a planned capex expenditure of roughly Rs 1.5 trillion within the upcoming five years. This strategy will empower BPCL to generate enduring value for our stakeholders, all the while safeguarding our planet for the well-being of future generations.He refrained from specifying the distribution of funds between the core oil business and clean energy initiatives.Krishnakumar did articulate that BPCL intends to invest Rs 1 trillion by 2040 in various projects, encompassing green hydrogen, carbon capture, utilisation, and storage (CCUS), as well as enhancements in energy efficiency for emission reduction.With aspirations of possessing 1 GW of renewable energy capacity by 2025 and an ambitious 10 GW by 2040, the company is committed to growth in the renewable energy sector.Furthermore, an investment of 10 billion rupees has been earmarked for the establishment of 50 MW of captive wind power plants. These installations will cater to the energy needs of BPCL's Mumbai refinery, which has a capacity of 240,000 barrels per day (bpd), as well as the Bina refinery located in central India.Also read: ADB funds Rs 1.2 billion loan for Fourth Partner Energy Kerala power minister adopts alternative smart metre model

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code