Oil companies race ahead in EV charging space-Business Journal

Not eager to be left behind within the race for renewables and electric vehicles, oil marketing companies are racing ahead with their plans to expand their presence within the renewable energy space.
Last week state-run Hindustan Petroleum Corporation Ltd (HPCL) joined hands with Tata Power for fixing end-to-end EV charging stations at HPCL’s shops or petrol pumps in multiple cities and major highways across the country.
Under the agreement, Tata Power will provide state-of-the-art EV charging infrastructure at HPCL pumps for EV users who can travel within cities and intercity with none range anxiety. The charging is enabled with the Tata Power EZ charge mobile platform (an award-winning app) which makes it a seamless experience for vehicle owners.
“HPCL with its vast network comprising of quite 18000 shops and Tata Power with its strong presence and expertise within the EV charging segment brings a singular strategic partnership to make a pan India charging ecosystem with end-to-end solutions,” said ED Retail, HPCL, Sai Kumar Suri.
Indian Oil Corporation Ltd (IOCL), the most important of the three big oil marketers, on the opposite hand, has found out 257 charging stations and 29 battery swapping stations throughout the country. the corporate is additionally performing on aluminium air battery technology with a far off technology company to place up a producing facility in India.
Development and availability of electrical vehicles for charging infrastructure may be a key requirement for the proliferation of EVs in India and oil companies through forging such partnerships decide to facilitate an equivalent additionally to diversifying their business.
Their strategy is additionally in line with the government’s National Electric Mobility Mission Plan (NEMMP) which aims to develop electric vehicle charging infrastructure using the newest technology platform along side quick access to electric vehicles for charging points.
The government is additionally pushing solar and wind energy also as electric vehicles, to curb oil imports and pollution, and meet its commitments under the Paris accord on global climate change . India pledged to scale back carbon emissions relative to its gross domestic product by 33-35% from 2005 levels by 2030, under the accord.
Privatization-bound Bharat Petroleum Corporation Ltd (BPCL) has also shortlisted oil depots and liquified petroleum gas bottling plants for the installation of rooftop solar plants.
It is envisaged that rooftop solar plants will reduce conventional electricity consumption and also achieve greenhouse emission emission reduction.