HPCL set to develop 5000 EV charging stations over 3 years
- ByStartupStory | September 18, 2021
HPCL, Hindustan Petroleum Corporation Limited, a subsidiary of Oil and Natural Gas Corporation said the company is planning to add 5,000 electric vehicles (EV) charging stations in the next 3 years.
The company is aiming to capture a significant share of the nascent EV charging market. The company is planning to leverage its nationwide network of 19,000 fuel retail stations, brand loyalty, and years of experience serving vehicle owners by adding EV charging facilities. Most of the 5,000 EV charging stations will be built in its fuel retail outlets
Addressing the shareholders at the company’s annual general meeting held on Wednesday, Surana said HPCL is “actively reviewing green power and green hydrogen opportunities.” It has envisaged a capital expenditure of about Rs 65,000 crore over the next five years for various projects.
The company has earlier tied up with the three entities including Convergence Energy Services Ltd (CESL), Tata Power, and Magenta EV Systems, for setting up charging infrastructure at its retail outlets. The company has about 85 EV charging stations at present, all of which have been established at existing fuel stations.
HPCL plans to install a “ChargeGrid Flare” range of chargers at select retail outlets pan India.
It is also upgrading infrastructure to address the battery charging needs of two-three-wheelers/ cab aggregators/car owners in the personal mobility segment, aimed at enhancing consumer confidence in e-mobility initiatives and faster adoption of electric vehicles.
HPCL’s agreement with CESL, a wholly-owned subsidiary of Energy Efficiency Services Limited (EESL), entails setting up of electric charging infrastructure in select retail outlets in cities, including Mumbai, Delhi NCR, Bengaluru, Hyderabad, Chennai, Kolkata, and Pune, over the next 10 years.
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