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| BPCL plans Rs 2,200-cr non-conventional energy initiative |
| Press Trust of India / Mumbai Sep 23, 2008, 14:00 IST |
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State-owned oil major, Bharat Petroleum Corporation Ltd (BPCL), has taken up several initiatives in the area of non-conventional energy like bio-diesel, solar energy and wind mills, a top company official said here.
"We have formed a joint venture company, Bharat Renewable Energy along with Nandan Biomatrix and Shapoorji Pallonji & Co for producing bio-diesel. The JV firm will produce one million tonne of bio-diesel by 2015 at an investment of Rs 2,200-crore," BPCL's Chairman and Managing Director, Ashok Sinha, told reporters here.
"Entry into the non-conventional areas is driven by our strong belief that these offer great potential in meeting the country's growing energy needs," Sinha said.
Surplus land at the existing supply locations and LPG bottling plants has been identified and the process of plantation of jatropha trees has continued, he said.
The fruits of these plantations would be available in 2-3 years. The plantations will continue in the coming years in locations where vacant land is identified.
The company has undertaken its first project in Uttar Pradesh involving the plantation of jatropha plants in 1- million acres of wasteland and production of 1-million tonne of bio-diesel is expected by FY15, Sinha said.
Reduction in crude imports by 5 per cent by 2015 and 10 per cent in 2020 can be achieved through bio-diesel.
Success in this area can make a major contribution towards substitution of fossil fuels to the extent of the bio-diesel produced, the BPCL chief said.
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