New Delhi: In order to realise green energy objectives and the government's efforts towards a carbon-neutral economy, a memorandum of understanding (MoU) has been signed between Hindustan Petroleum Corporation Limited (HPCL) and Solar Energy Corporation of India (SECI) on February 24 in New Delhi, said a statement on Friday. The MoU has been signed by HPCL's Chief General Manager (Biofuels & Renewables) Shuvendu Gupta and SECI's Executive Director Sanjay Sharma. The MoU envisages cooperation and collaboration in the field of renewable energy, electric mobility and alternative fuels, including the development of ESG Projects.
Speaking on the occasion, HPCL's Chief General Manager Shuvendu Gupta said that HPCL has been in the forefront of harnessing renewable energy for commercial use and for sustainable development and is very happy to associate with SECI to expand its presence in the value chain further.
SECI's Executive Director Sanjay Sharma said, "SECI has been actively associating with different oil & gas majors of the country for realising the government's target of net zero-emission. This collaboration between HPCL and SECI is going to see many more initiatives in renewable energy, electric mobility, alternate fuel like hydrogen etc towards a carbon-neutral economy and sustainable development."
HPCL is one of India's premier performing Maharatna PSU having diversified business interests in oil refining, exploration and marketing. In line with the government's objective of renewable energy capacity development and faster adoption of electric mobility in the country, HPCL intends to further diversify in the renewable energy sector and electric mobility sector and to take up the development of ESG projects.
SECI is a PSU under the Ministry of New and Renewable Energy (MNRE). It has been at the forefront of renewable energy capacity development and has been credited for bringing the lowest renewable tariffs in the country. SECI is engaged in the promotion and development of various renewable energy resources, especially solar/wind energy, renewable energy-based storage systems, waste to energy, trading of power, R&D projects, as well as renewable energy base products like green hydrogen, green Ammonia, RE powered EV etc.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)