Bharat Petroleum Corporation Ltd (BPCL), a state-owned enterprise, announced on Tuesday that it emerged as the lowest bidder in NTPC’s tender for selecting Solar Power Generators to set up 1200 MW ISTS-connected solar PV power projects across India. BPCL secured a 150 MW capacity in the reverse auction.
The project, which will be developed over the next two years, is expected to require an investment of ₹756.45 crore. Once completed, it is anticipated to generate annual revenue of around ₹100 crore by producing approximately 400 million units of clean energy.
“This achievement demonstrates BPCL’s commitment to supporting India’s transition to renewable energy,” the company stated. For the July-September quarter, BPCL reported a net profit of ₹2,397 crore, falling short of analysts’ expectations of ₹4,207 crore. On a sequential basis, the net profit decreased by 20.5%. The company’s revenue stood at ₹1.03 lakh crore, reflecting a 9.1% decline from the previous quarter.
EBITDA for the quarter was ₹4,547 crore, significantly lower than the anticipated ₹7,211 crore, marking a 19.5% decline from the June quarter. The EBITDA margin for the period was 4.4%, below the expected 6.8%.
Bharat Petroleum Corporation Limited (BPCL) is one of India’s leading oil and gas companies, known for its diverse range of energy solutions. A wholly owned subsidiary of the Indian government, BPCL operates across refining, marketing, and distribution of petroleum products.
With a robust infrastructure that includes refineries, pipelines, and an extensive retail network of fuel stations across India, BPCL serves millions of customers every day. The company is also heavily invested in renewable energy, with a focus on green initiatives, including biofuels and solar energy, as part of its commitment to sustainable development. BPCL continues to innovate and evolve, ensuring energy security while contributing to India’s growth and development in the energy sector.
