New Delhi: State-run Hindustan Petroleum Corporation Ltd (HPCL) will be putting up a 370-tonne per annum capacity green Hydrogen plant in Vizag refinery and expects to commission it by December 2022, said its Chairman and Managing Director (CMD) MK Surana on Tuesday. Addressing investors during a post-quarterly earnings conference call, Surana said, "We are now also working on green Hydrogen. And we will be putting up a 370-tonne per annum capacity green Hydrogen plant in Vizag refinery, which we expect to commission by December 2022."
"Our R&D centre in Bengaluru, which uses Hydrogen, has been using only green Hydrogen produced from electrolyser using renewable energy, for the last one year," the HPCL CMD told investors during the call.
Elaborating on the company's future strategy, the CMD said that the new energy strategy will be focussed on expanding the oil marketing company's (OMC) presence in each segment of the gas value chain and green Hydrogen. He, however, added that oil will continue to be relevant for some time, and in the transition between fossil fuels and green energy, gas will serve as a bridge fuel.
While acknowledging that gas is going to be an important component in India's energy mix as the government plans to increase natural gas' share from 6 percent to 15 percent by 2030, Surana said that HPCL has aligned its energy strategy with that goal. "Since gas is going to be an important element of in India's energy mix, we would like HPCL to occupy space in each segment of the value chain, which includes gasification, CGD, LNG supply, LNG as a transportation fuel, among others," the CMD told investors.
Commenting on the progress made in Chhara LNG terminal, Surana said that it is expected to be completed in FY23. "Mumbai refinery use Hydrogen produced from natural gas for boilers, furnaces etc. We source LNG but we have not contracted it for long-term so far. We are planning on doing it. But we do realise that petrochemicals and gas are two of the factors that are going to drive our growth in the time to come. And gas is going to be a bridge fuel between fossil fuels and renewables and there is a focus on increasing the penetration of gas from 6 percent to 15 percent," said the CMD.
Commenting on the company's new energy strategy, the CMD said, "We are going to have 5,000 EV stations in the next 3-4 years. The Chhara LNG terminal is already progressing. And we also have 1G and 2G ethanol and CBG projects that are being implanted. So, as far as our project pipeline is concerned, we already have a portion that is focused on newer sources of energy."
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