• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 11 days Does Toyota Know Something That We Don’t?
  • 2 mins "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 3 hours World could get rid of Putin and Russia but nobody is bold enough
  • 5 days America should go after China but it should be done in a wise way.
  • 30 mins How Far Have We Really Gotten With Alternative Energy
  • 13 days China is using Chinese Names of Cities on their Border with Russia.
  • 22 hours The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 2 days Even Shell Agrees with Climate Change!
  • 3 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 13 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
Can Anything Stop Bitcoin’s Bull Run?

Can Anything Stop Bitcoin’s Bull Run?

Bitcoin surged past $63,000, driven…

India’s Bharat Petroleum To Raise $2.2 Billion For Green Energy Expansion

India’s State-owned oil company Bharat Petroleum has approved raising up to 180 billion rupees ($2.19 billion) through an issue of equity shares as part of the government’s push into green energy. The Indian government plans to inject billions of dollars into Bharat Petroleum and its state-owned peers, Indian Oil Corp. and Hindustan Petroleum Corp. Ltd. to help fund their energy transition projects. The three refiners plan to invest 3.5 trillion rupees to 4 trillion rupees to achieve their net-zero emissions goals by 2040. The government has pledged to invest $350 billion rupee s($4.3B) in clean energy projects in the current year. Bharat Petroleum is India’s third-biggest refiner and the second-largest fuel retailer with a 21% slice of the market.

India’s private sector is also investing heavily in clean energy projects.

A week ago, a venture group backed by India’s second-largest solar energy company, Vikram Solar, will invest up to $1.5 billion in the U.S. solar energy supply chain, with the first investments going to a factory in Colorado next year, according to an exclusive Reuters report. 

The $250 million Colorado facility will be capable of producing 2 gigawatts (GW) of modules a year initially and double the capacity over time and will also create more than 900 jobs. 

Newly formed VSK Energy LLC will leverage India's extensive solar manufacturing know-how in the U.S. push to build a clean energy manufacturing sector that can compete with China. Vikram Solar Limited is one of the largest solar module manufacturers in India with 3.5 GW module manufacturing capacity annually.

"It's a great thing for us to be bringing an Indian company to the table here. You've seen a number of Indian companies get into the manufacturing space and do quite well, and Vikram is the best of them,"Sriram Das, managing director at Das & Co and chairman of the joint venture, told Reuters.

By Alex Kimani for Oilprice.com

More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News