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Central Government/Public Sector | Rajasthan - India | PID: 203319
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Hindustan Petroleum Corporation (HPCL) is actively pursuing large-scale investment to build petrochemical manufacturing capacities through joint ventures (JVs) and expanding its petrochemical portfolio. It is building India’s first integrated grassroots refinery-cum-petrochemical complex at Pachpadra, in Balotra district of Rajasthan.
The refinery called HPCL Rajasthan Refinery (HRRL), is a JV company between HPCL and the government of Rajasthan. The project is in the advanced stage of completion. The refinery-cum-petrochemical complex has a petrochemical intensity index of 26 percent, which is the highest in India.
During FY24, HPCL also incorporated a wholly-owned subsidiary named ‘HPCL Renewable & Green Energy (HPRGE)’ to enhance focus on sustainability and leverage market opportunities. It will expand footprint in green energy businesses, including biofuels, renewables, green hydrogen, carbon offsets, green mobility and alternative energy solutions.
During the year, the company established a separate strategic business unit (SBU) of petrochemicals to ensure a focused business strategy in expanding the petrochemical portfolio. The subsidiary has begun supplying renewable energy from its newly commissioned five MW solar power project in Jhansi (Uttar Pradesh).
HPCL’s renewable energy portfolio has reached a total capacity of 208 MW. A total of 17,618 HPCL retail outlets have been solarised, and initiatives in battery swapping and energy storage solutions are being pursued.
| Updated on: 27 - Aug - 2024
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