BPCL Plans to Establish India's First Green Hydrogen Plant in an Airport

15 Feb 2024 , 10:43 AM

On Wednesday, Indian refiner Bharat Petroleum Corp Ltd (BPCL) announced plans to build the country’s first green hydrogen factory within an airport.

BPCL announced plans to develop and manage a 1,000-kilowatt green hydrogen plant within Cochin International Airport, contributing land, water, and green energy resources.

BPCL said the initial production will be utilised to power cars at the airport in the country’s southern parts. Green hydrogen, created from water using renewable energy sources, is regarded as a future fuel that is compatible with carbon-neutral plans.

Indian firms are investing billions of dollars in emissions reduction efforts to reach the country’s target of net zero emissions by 2070. To attain this aim, India is growing the usage of biofuels in its transportation industry. BPCL is to invest $18.16 billion over the next five years to develop its oil business and renewable energy portfolio as it strives for net zero emissions by 2040.

In a recent update, on Wednesday, BPCL ESPS Trust sold a 0.3% interest in Bharat Petroleum Corporation on the open market for around ₹400 Crore.

The trust sold 68,36,948 shares at ₹584 each, according to block transactions data.

Meanwhile, numerous local mutual funds, as well as international institutional and portfolio investors, purchased shares of the state-owned refinery in block transactions.

BPCL, a Maharatna PSU, aspires to effectively supply our country’s energy demands with over 40 MMT of combined refining capacity through strategically positioned refineries in Mumbai, Kochi, Numaligarh, and Bina.

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