The shares of Bharat Petroleum Corporation Ltd were trading in the green and 2% higher on 26 December after the company announced emerging as the lowest bidder for a 150 megawatt (MW) solar PV power project.

The project will be developed over the course of two years at an anticipated capital investment of Rs 756.45 crore if the contract is finalized. An estimated Rs 100 crore in revenue would be generated annually from the production of 400 million units of clean energy.

The company has applied for NTPC’s solar power producer selection tender in order to build 1200 MW ISTS-connected solar PV power projects across India.

At its meeting on 24 December, the corporate board also approved the commencement of pre-project operations to build a green field refinery/petrochemical complex on the east coast of Andhra Pradesh at an estimated cost of Rs 6,100 crore.

The pre-project operations include a number of preliminary investigations, land identification and purchase, the development of a comprehensive feasibility report, an environmental impact assessment, a basic engineering package, front-end engineering design, etc.

Earlier this month, in Mumbai, the business and Coal India signed a non-binding memorandum of understanding (MoU) to investigate the possibility of using surface coal gasification to construct a coal-to-synthetic natural gas project at Western Coalfields Limited (WCL).

At 11:23 am, the shares of Bharat Petroleum were trading 0.62% higher at Rs 293.82 on NSE. 

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