Indian Oil Corp, HPCL (Hindustan Petroleum Corporation Limited) and BPCL (Bharat Petroleum Corporation Limited) are planning to expand their business by increasing their presence in the renewable energy space, Mint reported.
Indian Oil Corp is planning to set up battery charging stations for electric vehicles at its petrol pumps, BPCL is looking into rooftop solar plants and HPCL is looking to make a mark in the natural gas and renewable energy segments.
Indian Oil’s annual report for 2016-2017 said,“We are also looking at opportunities for manufacturing and retailing lithium-ion batteries,” clearly stating that they are keen on setting up battery charging stations.
According to BPCL’s annual report for FY17, the company sees 5 percent of its revenue coming from non-fossil fuel resources. BPCL has finalised 10 oil depots and liquified petroleum gas bottling plants for installation of rooftop solar plants. Read More…