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Bharat Petroleum Corporation (BPCL), a public sector petroleum marketing company, is considering developing 240 MW of renewable power capacity during the fiscal year 2023-24. According to a top BPCL official, the company's renewable growth will cost Rs 16 billion. The government of India planned to divest BPCL, however the process was stalled due to a lack of buyer interest. The PSU now appears to be determined to make up for the time wasted while waiting for suitors. Sukhmal Jain, Director (Marketing), BPCL, said in a statement, “We will soon be setting up solar and wind power facilities. We have plans to set up 240-MW of solar and wind energy farms in Uttar Pradesh, Madhya Pradesh, and Maharashtra at an estimated cost of Rs 16 billion.� BPCL has announced that solar power projects with a capacity of around 50 MW are already under construction at various corporate facilities. BPCCL is also trying to initially satisfy the captive power requirement for its refineries. The company's total captive requirement is 350 MW. Sukhmal Jain stated that BPCL is looking into organix and in-organic prospects, adding that the state-owned business will continue to bid on industry tenders. See also: Green flags to Rs 500 bn BPCL proposal for Bina refinery by MP govt Government to fund green energy conversion of state-run refineries