State-run Bharat Petroleum Corporation Ltd (BPCL) is investing ₹10,029 crore ($1.19 billion) to build a 2 GW renewables portfolio by 2025, scaling to 10 GW by 2035, alongside a network of 7,000 electric vehicle chargers nationwide. The pivot marks one of the most ambitious green transitions by a traditional oil refiner.
“Energy security in India is about diversification,” said G. Krishnakumar, BPCL chairman and managing director. “We are aligning our capital expenditure with India’s clean energy ambitions.”
BPCL’s strategy builds on India’s broader $109.5 billion power infrastructure expansion, weaving renewables into existing refining and distribution assets. The company is repositioning itself as a dual-energy provider—supplying both clean fuels and digital energy services.
To fast-track delivery, BPCL has created a dedicated renewable energy division, restructuring financing and operations. Its pipeline includes solar parks in Rajasthan, wind projects in Karnataka, and pilot green hydrogen facilities integrated with refineries.
The EV charging plan is designed to complement India’s expanding fleet of two- and three-wheelers. “BPCL’s retail footprint gives it a natural edge in EV infrastructure,” said an analyst at ICICI Securities.
Technological pilots—ranging from digital grid management to electrolyser installations—are under way, underscoring a shift from conventional refining to integrated clean energy solutions. The company is also tapping concessional finance from multilaterals such as the Asian Development Bank to lower project costs.
By 2030, BPCL expects renewables to form at least 20 per cent of its revenue mix, a stark departure from its oil-heavy balance sheet.