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New Delhi: State-owned Bharat Petroleum Corporation (BPCL) on Tuesday said it has signed a memorandum of understanding (MoU) with Rajasthan to set up a 1 gigawatt (GW) renewable energy (RE) plant in the state.

Bharat Petroleum has set the goal of net zero in Scope 1and 2 emissions by the year 2040. The company plans to expand the renewables portfolio and reach 1 GW of renewable energy by 2025 and 10 GW by 2040.

The MoU was signed between Rajasthan’s Energy Department Secretary Bhaskar A Sawant and BPCL head Renewable Energy Shelly Abraham at a ceremony organised by the Bureau of Investment Promotion, Government of Rajasthan, the company said in a statement.

The MoU signing was presided over by Rajasthan Chief Minister Ashok Gehlot, Industries Minister Shakuntala Rawat and Energy Minister Bhanwar Singh Bhati, it added.

Gehlot expressed Rajasthan’s vision to create a positive space for investment in Rajasthan with a Green Imprint on it. He congratulated the working teams and encouraged to further augment this collaboration for sustainable economic development in the state.

Rawat assured full support from the Rajasthan government to all the investors present during the ceremony. She also emphasized on the steps undertaken by the government in this regard.

BPCL’s ‘Renewables’ business unit is steering this voyage to help the global efforts to curb global warming, in line with the national climate commitments, and renewable energy has a pivotal role to play in this endeavor.

The company is also accelerating biofuels in this pursuit. They are presently blending 10% Ethanol in Petrol, with a target to reach 20% blending by 2025-26.

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