Hindustan Petroleum Corporation Limited (HPCL) and NTPC Green Energy Ltd (NGEL) has signed a memorandum of understanding (MoU) in New Delhi to accelerate the transition to a carbon-neutral economy in India.
The MoU aims to promote cooperation and collaboration in renewable energy, energy storage, RTC power, electric mobility, solar/wind value chain, and meeting HPCL's green power requirements through the sharing of expertise.
This partnership is part of HPCL's strategy to expand into the renewable energy sector and meet its internal green power needs for its refineries, locations, retail outlets, and EV charging stations.
The memorandum of understanding (MoU) between HPCL and NTPC Green Energy is part of HPCL's plan to rapidly expand into the renewable energy sector and take advantage of business opportunities in this field.
The MoU also aims to help HPCL meet its internal round-the-clock green power needs for its refineries, locations, retail outlets, and EV charging stations.
Further, HPCL also informed that it has entered the petrochemical industry with the pre-marketing of its brand of polymers called 'HP DURAPOL.' This is a preliminary step before the marketing of petrochemical products from HPCL Rajasthan Refinery Limited (HRRL).
HRRL is constructing a new 9 MMTPA refinery and petrochemical complex in Pachpadra, Rajasthan. On January 3, 2023, HPCL began selling polymers to end customers in Mumbai, Maharashtra.
