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| BPCL targets 10 GW of renewable energy by 2040 |
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Mumbai: Bharat Petroleum Corporation Ltd (BPCL) has planned to scale up its renewable energy portfolio from less than 50 MW to 1 GW by 2025 and 10 GW by 2040, chairman Arun Kumar Singh said on Monday.
"BPCL has decided to expand its reach and presence in the non-fuel business to offer consumables, durables business and services by leveraging its pan-India network of over 20,000 fuel stations and more than 6,200 LPG distributors. The business is working towards creating 1500 in and out stores and engaging 15,000 Urja Devis in 2022-23," he said, addressing company's annual shareholders' meeting.
Singh said with electric mobility likely to gain traction, the BPCL has adopted 900 km Chennai Trichy Madurai highway and set up a fast track changing facility at every 100 km distance at its retail outlets on pilot basis.
BPCL plans to extend this facility across 200 highway corridors with around 2,000 retail outlets in 2022-23, he said.
He said to enhance the petrochemicals space, BPCL has planned two new projects, the Ethylene cracker project at Bina refinery and polypropylene project at Kochi refineries.
"Once commissioned these will increase the share of petrochemicals in the company's product portfolio from around 1 percent currently to 8 per cent," he said.
Later, addressing a press conference he said crude price hike is a temporary phenomenon and expressed hope that things will improve in coming months.
"I still believe that crude price hike is a temporary phase. World cannot afford it for long. Problems will get over within 6-8 months," he said.
On losses incurred by the company due no change in petrol and diesel prices of late, he said, "Crude prices have been volatile. Ability to pass it on is not there. It is always our desire to obser volatility ourselves. We are more calibrated than western countries. Earlier too we had losses but we came out and had profits. It's temporary phenomenon."
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