Bharat Petroleum Corporation (BPCL), under its Project Aspire strategy, is advancing its green energy initiatives as part of its broader commitment to sustainability and net-zero emissions by 2040.
With a planned capital expenditure of around ₹1.70 lakh crore over the next five years, BPCL is focusing on key growth areas including petrochemicals, gas, green energy, non-fuel retail, and digital transformation.
A significant portion of this investment, approximately ₹1 lakh crore, is earmarked for green energy initiatives. BPCL has outlined a comprehensive roadmap to achieve net-zero emissions for Scope 1 and Scope 2 by 2040, which will include investments in renewable power, green hydrogen, compressed biogas, carbon capture, utilization and storage (CCUS), energy efficiency improvements, and carbon offsets.
Renewable Energy Targets
BPCL is setting aggressive renewable energy targets, aiming to build 2 GW of renewable energy capacity by 2025 and expand to 10 GW by 2035. In line with these goals, the company is investing nearly ₹1,000 crore to establish two 50 MW captive wind power plants in Maharashtra and Madhya Pradesh, which will support its refineries in Mumbai and Bina. Additionally, BPCL is investing around ₹300 crore in a 72 MWp solar project in Prayagraj, Uttar Pradesh.
Green Hydrogen and Biofuels
Aligning with the National Green Hydrogen Mission, BPCL is executing key Green Hydrogen projects, including a 5 MW electrolyzer plant at its Bina Refinery and a Green Hydrogen refueling station in Kochi, which features an indigenously developed electrolyzer. BPCL is also a leader in India’s biofuel sector, increasing ethanol blending in petrol to 11.70 percent and expanding its retail network for E20 fuel to over 4,200 outlets. The company has also significantly increased its biodiesel procurement and is driving the adoption of Compressed Biogas (CBG), with plans to commission its first CBG plant using Municipal Solid Waste in Kochi this year.
Electric Vehicle Infrastructure
BPCL is expanding its electric vehicle (EV) charging infrastructure, with over 3,100 charging stations already installed and plans to reach 7,000 stations soon. The company has also introduced the innovative Highway Fast Charging Corridors concept, expanding its EV fast charging network to around 900 stations across 120 key corridors, aimed at alleviating range anxiety for EV users. Over the next five years, BPCL plans to install four-wheeler fast chargers at approximately 6,000 retail outlets across 400 highway corridors, with a focus on high-traffic routes like the Golden Quadrilateral and the North-South/East-West highways.
Financial and Operational Achievements
In the financial year, BPCL delivered a record profit of ₹26,673.50 crore, the highest throughput of 39.93 MMT, and the highest market sales of 51.04 MMT. The company’s digital transformation efforts have also been substantial, with over ₹60,000 crore in annual transactions through its HelloBPCL platform and millions of transactions via other digital channels.
Sustainability and ESG Commitment
BPCL’s sustainability initiatives are benchmarked on Environment, Social, and Governance (ESG) parameters using the Dow Jones Sustainability Index (DJSI) platform, achieving a global ranking of eighth in the Oil and Gas sector for 2023-24. The company remains committed to maintaining its leadership in green energy and sustainability as it continues to invest in a greener, more sustainable future.