A Memorandum of Understanding (MoU) has been signed between Solar Energy Corporation of India Ltd (SECI) and Bharat Petroleum Corporation Limited (BPCL). The MoU was signed on 24th December 2021.
The MoU was signed by Amit Garg, Head of RE Business, BPCL and Sanjay Sharma, Executive Director, SECI. The signing envisages cooperation and collaboration in the field of Renewable Energy. Electric Mobility and alternate fuel economy including the development of ESG Projects.
BPCL is one of India’s best PSU with diversified business in oil, refining, exploration and Marketing. BPCL will diversify in the RE Sector and Electric Mobility sector to align GOI’s objective of RE Capacity development and faster adoption of Electric mobility in the country.
Whereas SECI is engaged in the promotion & development of various renewable energy resources including solar/wind, RE based Storage Systems, trading of power. Also, they deal in R&D of green hydrogen, green Ammonia.
This collaboration will harbinger new engagement in the RE sector. This will act as a catalyst to fast track the RE journey and reach the target of net-zero emissions. BPCL has 1GW renewable power by 2025 planned and 10 GW by 2040.
Both teams are dedicated to fulfilling India’s commitments to a carbon-neutral economy and look forward to a continuing partnership.