Bharat Petroleum Corp. Ltd will set up a 1 GW renewable energy power plant in the Indian state of Rajasthan. It has signed a memorandum of understanding with the government of Rajasthan to build the plant with an investment of INR 5,000 crore.
Bharat Petroleum targets to become a net-zero energy company by 2040, in Scope 1 and Scope 2 emissions. Toward its climate commitments, it plans to reach a renewable energy capacity of 1 GW by 2025 and 10 GW by 2040.
The company is also accelerating biofuels in this pursuit. It is presently blending 10% ethanol in petrol, with a target to reach 20% blending by 2025-26. It also plans to offer electric vehicle charging stations at around 7,000 energy stations over the next five years.
Bharat Petroleum is the second largest oil marketing company and one of the premier integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry.
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