The Hindu : Business : HPCL to diversify

Online edition of India's National Newspaper
Wednesday, Nov 23, 2005

Business

Business

HPCL to diversify

To invest Rs. 100 cr. for its foray into wind energy

MUMBAI: Hindustan Petroleum Corporation Ltd. will set-up a 100 MW wind park and launch pilot projects for bio-diesel production — moves that could deliver significant cost advantages to the company.

"We initially have plans to begin operations in coastal Maharashtra with a 25 MW of wind energy project, which we aim to increase to 100 MW,'' HPCL Chairman and Managing Director M. B. Lal told reporters at the Energy Security Conference organised by the Federation of Indian Chambers of Commerce and Industry (FICCI) here on Tuesday.

He said the company was in talks with the State Electricity Board for selling the power to the grid or to the board through bilateral contracts.

The company would be investing Rs. 100 crore initially for its foray into wind energy.

Besides, the petroleum major has plans to launch pilot projects for jatropha farming for bio-diesel production in Rajasthan and Chhattisgarh.

"We have chalked out a project aimed at bio-diesel production, with pilot projects in jatropha farming coming up in Rajasthan and Chhattisgarh. We are also in talks with Pantnagar University in Uttaranchal, which has already done some research in these areas,'' Mr. Lal said.

The company was looking forward to participating in downstream and upstream projects in East Africa under its wholly owned subsidiary Prize Petroleum, Mr. Lal said. — PTI

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