HPCL’s Bold Move: Transforming India’s Petrochemical Landscape

Hindustan Petroleum Corporation (HPCL) is making significant strides in expanding its petrochemical capabilities through substantial investments and strategic joint ventures. The company is spearheading the development of India’s first integrated refinery-cum-petrochemical complex in Pachpadra, Balotra district, Rajasthan. Named HPCL Rajasthan Refinery (HRRL), this joint venture with the government of Rajasthan is approaching completion, featuring a petrochemical intensity index of 26 percent, the highest in the country.

In fiscal year 2024, HPCL also launched a wholly-owned subsidiary, HPCL Renewable & Green Energy (HPRGE), to focus on sustainability and tap into green energy markets. This new entity will drive growth in biofuels, renewable energy, green hydrogen, and other alternative energy solutions.

Additionally, HPCL has established a dedicated strategic business unit for petrochemicals to refine its expansion strategy. The subsidiary has already begun operations with a five MW solar power project in Jhansi, Uttar Pradesh, contributing to its growing renewable energy portfolio.

Currently, HPCL’s renewable energy capacity stands at 208 MW, with solar installations at 17,618 retail outlets. The company is also exploring advancements in battery swapping and energy storage, reinforcing its commitment to a sustainable energy future.

News by Rahul Yelligetti