 "BPCL begins Rs 6,100 cr pre-project activities on Andhra refinery")
Bharat Petroleum Corporation Limited (BPCL), in exchange filings, announced two major developments on Tuesday: Commencement of the pre-project activities for a greenfield refinery-cum-petrochemical complex on the East Coast in Andhra Pradesh worth Rs 6,100 crore and its win of NTPC’s reverse auction for 1,200 MW ISTS-connected solar PV projects across India.
Greenfield refinery and petrochemical complex
BPCL’s board approved the commencement of pre-project activities for a greenfield refinery-cum-petrochemical complex on the East Coast in Andhra Pradesh. The estimated cost of the project is Rs
6,100 crore.
Pre-project phase will include:
- Initial studies
- Land identification and acquisition
- Detailed feasibility report preparation
- Environmental impact assessment
- Basic design engineering package
- Front-end engineering design
“The Trading window for dealing in BPCL securities was closed from Saturday, 21st December, 2024 up to Thursday, 26th December 2024,” the filing mentioned.
Solar power auction win
In a separate announcement, BPCL disclosed its success in NTPC’s reverse auction for 1,200 MW ISTS-connected solar PV projects across India. The company emerged as the lowest bidder for a capacity of 150 MW. The capital outlay of the project is Rs 756.45 crore over two years.
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The project also has a projected annual revenue of Rs 100 crore, while producing around 400 million units annually in clean energy.
“This milestone highlights BPCLs commitment to advancing renewable energy initiatives and contributing to India’s clean energy transition,” the company said.
BPCL reported a 72 per cent year-on-year decline in consolidated net profit to Rs 2,297 crore for the July-September quarter of the financial year 2024-25, due to lower refining margins and cracks. The state-run oil retailer had posted a profit of Rs 8,243 crore in the same period last year.
The shares of BPCL closed at Rs 291.70 on the BSE today, up by 0.9 per cent from the previous session’s closing price.