State-run Bharat Petroleum Corporation (BPCL) on Tuesday said it has signed a memorandum of understanding (MoU) with Rajasthan to set up a 1-gigawatt (GW) renewable energy (RE) plant in the state.
The MoU was signed between Rajasthan’s Energy Department Secretary Bhaskar A Sawant and BPCL head Renewable Energy Shelly Abraham at a ceremony organised by the Bureau of Investment Promotion, Government of Rajasthan, the company said in a statement.
The MoU signing was presided over by Rajasthan Chief Minister Ashok Gehlot, Industries Minister Shakuntala Rawat and Energy Minister Bhanwar Singh Bhati, it added.
BPCL targets Net Zero in Scope 1&2 emissions by 2040. It aims to expand its renewables portfolio and reach 1 GW of renewable energy by 2025 and 10 GW by 2040.
Gehlot spelt out Rajasthan’s vision to create a positive space for investment with a green Imprint. He congratulated the working teams and encouraged them to augment the collaboration for sustainable economic development in the state.
Rawat assured state government support to all the investors present at the ceremony.
As part of the renewables business, BPCL is pursuing the use of biofuels. It is currently blending 10 per cent ethanol with petrol and targets 20 per cent blending by 2025-26.