Bharat Petroleum Corporation‘s joint venture NeuEN Green Energy has bagged an order to supply 10,000 tonnes per annum of green hydrogen to Numaligarh Refinery. The company said that the project has achieved the most competitive rate to date, as it will supply green hydrogen at a rate of Rs 279 per kilogram
NeuEN Green Energy is a 50:50 joint venture between Bharat Petroleum Corporation and Sembcorp Industries, which operates in clean-energy solutions across the power, hydrogen, and ammonia sectors.
NeuEN Green Energy stated that the project will feature a hybrid renewable-powered configuration, integrated with advanced energy storage solutions, to ensure reliable, round-the-clock electrolyser operations.
BPCL’s green hydrogen push
The large-scale contract to supply 10,000 tonnes of green hydrogen per year marks a significant milestone for Bharat Petroleum Corporation, which is looking to build a diverse energy portfolio consisting of conventional and clean energy sources.
Sanjay Khanna, Chairman & Managing Director, BPCL, said in a statement that through NeuEN, the company is strengthening its presence across the green hydrogen value chain and progressing towards becoming a supplier of clean energy solutions.
“As we move forward, our emphasis will remain on building robust execution capabilities and contributing meaningfully to industrial decarbonisation and India’s long-term energy security”, Khanna added.
BPCL share price
Bharat Petroleum Corporation’s stock has seen a sharp decline in the last month due to the ongoing conflict in West Asia. The supply disruption faced by oil tankers through the Strait of Hormuz, and the resultant surge in crude prices have put immense pressure leading to a significant correction in BPCL share price.
In the last one month, BPCL’s share price has declined by about 25 per cent. While in the last five trading sessions, Bharat Petroleum’s stock saw over 7 per cent correction, on Tuesday it recovered about 2.8 per cent in intra-day trade.
BPCL management changes
According to a Reuters report, Bharat Petroleum Corp has appointed Manoj Heda to lead its Singapore-based trading unit. As per the report, Bharat Petroleum Global Energy Services (Singapore) Pte is expected to start operations in April with a staff of four. Heda, who joined BPCL in 1999 as a senior manager for finance, has been an executive director for international trade and risk management since May 2023.