In a new phase of its energy strategy, Bharat Petroleum Corporation Limited (BPCL) has begun actively exploring overseas acquisition and investment opportunities focused on renewable energies such as solar, wind and hydro. The move is part of a broader plan to diversify its energy portfolio while strengthening its refining infrastructure in India.
The Indian state-owned company has set up a specialized mergers and acquisitions team to identify and close projects in international markets. The immediate objective is to build an installed capacity of 2 gigawatts (GW) in renewable energies by 2028, marking a structural change in its operating model.
Ambitious bet without neglecting fossil fuels
Although the company has launched this ambitious green plan, it is not disengaging from its traditional business. It is continuing to expand its refineries, understanding that fossil fuels are not the only fossil fuels will continue to be essential to supply the country’s growing demand for energy. This reflects a dual strategy: sustaining the energy present while investing in the sources of the future.
A strategy aligned with national objectives
India, the world’s third largest emitter of greenhouse gases, has committed to achieving net zero emissions by 2070. BPCL, as a major player in the energy sector, seeks to align itself with this national goal by diversifying its energy matrix. International investment in renewables will enable it to gain experience, technology and global positioning in the transition process.
Outlook for the future
With a combination of local development and international expansion, the company is positioned as a key player in the changing Indian energy paradigm. Its ability to balance investments in clean technologies with its traditional role in fuels could be decisive in ensuring its competitiveness and relevance in the next decade.
Source: Reuters