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BPCL Strengthens Sustainable and Energy Security Initiatives with Strategic Collaborations

Written by: Team Angel OneUpdated on: Feb 17, 2025, 4:25 PM IST
BPCL has signed multiple strategic agreements to advance biofuels, secure petrochemical supplies, and pioneer wave energy projects in India.
BPCL Strengthens Sustainable and Energy Security Initiatives with Strategic Collaborations
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Bharat Petroleum Corporation Limited (BPCL) has signed a Memorandum of Understanding (MoU) with the National Sugar Institute (NSI) in Kanpur to advance sweet sorghum as a sustainable feedstock for bioethanol production. This collaboration aligns with the government’s Ethanol Blended Petrol (EBP) Programme, aiming to reduce dependency on fossil fuels and promote renewable energy sources.

Share price of BPCL was trading higher by 0.56% as of 3:11 PM on NSE. 

BPCL has committed ₹5 crores towards research and development under this initiative. The funding will support field trials, technological advancements, and the optimisation of agricultural practices to enhance ethanol yield from sweet sorghum. Additionally, the partnership will explore the feasibility of utilising leftover biomass for compressed biogas (CBG) and other value-added applications.

Speaking on this initiative, BPCL Chairman and Managing Director, Shri G. Krishnakumar, stated, “Developing sweet sorghum as a biofuel feedstock marks a crucial step towards a cleaner and more sustainable future.” NSI Director, Smt. Seema Paroha said “NSI has been a leader in bioethanol research, and this partnership with BPCL will facilitate the application of our innovations, enhancing India’s renewable energy landscape.”

BPCL Secures Propane and Butane Supply with Equinor India Pvt Ltd

In a move to strengthen its petrochemical supply chain, BPCL has signed an agreement with Equinor India Pvt. Ltd., a subsidiary of Norway’s Equinor ASA, for the purchase of propane and butane. The agreement, which spans one year, ensures a steady supply of these crucial petrochemical feedstocks at competitive commercial terms.

This collaboration reinforces BPCL’s strategy of securing essential resources to support India’s growing energy and petrochemical demand. With this agreement, BPCL continues to enhance its operational efficiency and reliability in sourcing raw materials for its refining and downstream operations.

BPCL and Eco Wave Power Join Hands for Wave Energy Development

BPCL has also entered into a landmark agreement with Eco Wave Power Global AB to explore the potential of wave energy in India. Signed during India Energy Week 2025, this MoU sets the stage for developing wave energy-based renewable power projects along India’s coastline.

Under the agreement, BPCL will conduct a feasibility study and deploy a 100–300 kW pilot project at its Mumbai Oil Terminals. If successful, this initiative could pave the way for commercial-scale wave energy installations in India. Eco Wave Power will bring its patented wave energy conversion technology, while BPCL will manage regulatory approvals and site development.

Commenting on the collaboration, BPCL’s Chairman, Shri G. Krishnakumar, noted, “Wave energy remains an untapped resource in India, and this partnership will serve as a model for sustainable energy development.” Eco Wave Power’s CEO, Ms. Inna Braverman, added that the project could position wave energy as a mainstream renewable energy source in India’s clean energy transition.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Feb 17, 2025, 4:25 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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