SECI and HPCL sign MoU to realize govt's green energy objectives, efforts towards carbon-neutral economy

In order to realize 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 Limited (SECI).

"The MOU envisages cooperation and collaboration in the field of Renewable Energy, Electric Mobility, and alternative fuels including the development of ESG Projects," the Ministry of New and Renewable Energy said in a statement.

The Power Ministry said that SECI has been at the forefront of RE capacity development and has been credited for bringing the lowest RE tariffs in the country.

"SECI is engaged in the promotion and development of various renewable energy resources, especially solar/wind energy, RE-based storage systems, waste to energy, trading of power, R&D projects as well as RE base products like green hydrogen, green Ammonia, RE powered EV, etc," it read.

"In line with the government's objective of RE Capacity development and faster adoption of Electric Mobility in the country, HPCL intends to further diversify in the RE Sector and Electric Mobility sector and to take up the development of ESG projects," it added.

The MoU was signed by Shuvendu Gupta, Chief General Manager- Biofuels & Renewables, HPCL, and Sanjay Sharma, Executive Director, SECI on February 24 in New Delhi.

( With inputs from ANI )