The Industrial Promotion and Investment Corporation of Odisha, the state government’s investment promotion agency, and Bharat Petroleum Corporation have signed an agreement to establish a renewable energy plant and a green hydrogen facility for domestic and export clients.
The MoU, which is valid for five years, will also establish necessary infrastructure for the establishment of these plants and training, as well as information sharing.
Green hydrogen would assist industries in reducing aggregate greenhouse gas emissions, so contributing to the Center’s INDC (Intended Nationally Determined Contribution) commitments. Odisha, as a power surplus state, is striving to further enhance its position in the energy sector, and these new plants will assist Odisha’s heavy industries in meeting their expanding power demand.
While MD, IPICOL Bhupendra Singh Poonia signed the MoU on behalf of the Odisha government, Amit Garg, executive director, renewable energy, BPCL, signed on behalf of the oil major. Chief Secretary Suresh Chandra Mohapatra presided over the MoU signing ceremony on Monday. P.K. Jena, Development Commissioner; Nikunja Bihari Dhal, Secretary Energy; Vishal Dev, Secretary Finance; Arun Kumar Singh, Chairman and MD of BPCL; and other dignitaries from the government, oil sector, and environmentalists were present.
Chief Secretary Mahapatra stated on the occasion, “We have vast natural resources and, as a result of the increasing steel industry, green energy is a bright promise in Odisha.” Additionally, we have significant ports and are creating new ones to assist BPCL in exporting green hydrogen and ammonia to other countries.”
Jena, the development commissioner, assured her of all assistance. Hemant Sharma, Odisha’s secretary of industries, stated: “Odisha is the country’s largest producer of steel. Odisha now accounts for more than 33% of steelmaking capacity, making it the leading generator of green hydrogen and green ammonia. Demand will continue to grow in the future as a result of the value addition policy.”
Arun Kumar Singh, BPCL’s Chief Executive Officer, stated: “Given our relentless pursuit of customer service excellence, we at BPCL intend to achieve Net-Zero emissions in Scope I and II by 2040. BPCL also intends to invest Rs 25,000 crore to develop a 10 gigawatt renewable energy capacity by 2040, using a mix of solar, wind, small hydro, and biomass.”
