SECI, BPCL collaborates in Renewable Energy Sector and E-Mobility Sector- Execution Version
An MoU was signed by Sh. Amit Garg, Head of RE Business, BPCL and Sh. Sanjay Sharma, Executive Director, SECI
In order to realize green energy objectives and the GOI’s efforts towards carbon neutral economy, a Memorandum of Understanding (MoU) has been signed between Bharat Petroleum Corporation Limited (BPCL) and Solar Energy Corporation of India Limited (SECI on 24th December 2021 in New Delhi. The MoU was signed by Sh. Amit Garg, Head of RE Business, BPCL and Sh. Sanjay Sharma, Executive Director, SECI, in presence of Head, Corporate Strategy (BPCL) and Managing Director (SECI). The MOU envisages cooperation and collaboration in the field of Renewable Energy, Electric Mobility and alternate fuel economy including development of ESG Projects.
BPCL is one of India’s best performing Maharatna Public Sector Undertakings having diversified business interests in oil refining, exploration and marketing. In line with GOI’s objective of RE Capacity development and faster adoption of Electric Mobility in the Country, BPCL intends to further diversify in the RE Sector and Electric Mobility sector and to take up the development of ESG projects.
Solar Energy Corporation of India Limited (SECI), a PSU under Ministry of New and Renewable Energy (MNRE), is engaged in promotion and development of various renewable energy resources, especially Solar/Wind energy, RE based Storage Systems, trading of power, R&D as well as RE base products like Green Hydrogen, green Ammonia, RE powered EV etc. SECI is also the designated implementing agency for many RE schemes of GOI like VGF schemes, Solar Park Schemes, ISTS Projects for Solar & Wind, CPSU schemes etc. SECI has been at the forefront of RE capacity development and has been credited for bringing lowest RE tariffs in the Country.
Speaking on the occasion, CMD BPCL, Sh. Arun Kumar Singh said “This collaboration harbingers a new area of engagement for our company, and will act as a catalyst to fast track our journey towards Net-Zero in Scope 1 and Scope 2 emissions. BPCL has an aspiration to have a portfolio of 1 GW of renewable power by 2025, and 10 GW by 2040. Leveraging the skillsets and knowledge base of SECI will help us significantly in achieving these targets.”
Further, Ms. Suman Sharma, Managing Director, SECI said, “SECI is happy to associate with BPCL in this path-breaking initiative that will open new avenues of sustainable development, a move towards energy security and promises to take India to new frontiers of technology and scale. We are dedicated towards fulfilling India’s commitments of carbon neutral economy and look forward to a continuing partnership.”