BPCL wins bid to 150 MW solar power project, to spend ₹756.45 crore over two years

State-run Bharat Petroleum Corporation Ltd. (BPCL) announced on Tuesday that it was selected as the lowest bidder in NTPC’s tender for the selection of Solar Power Generators to establish 1200 MW ISTS-connected solar PV power projects across India. BPCL secured a 150 MW capacity in the reverse auction.

“Upon finalisation of the contract, the project will be developed over a two-years timeline at an estimated capital outlay of ₹756.45 crore and is projected to generate annual revenue of approximately ₹100 crore by producing around 400 million units of clean energy,” the company said in a statement.

“This milestone highlights BPCLs commitment to advancing renewable energy initiatives and contributing to India’s clean energy transition,” the company added.

The petroleum major reported a net profit of ₹2,397 crore for the July-September quarter, which was lower than the CNBC-TV18 poll of ₹4,207 crore. On a sequential basis, BPCL’s net profit declined by 20.5%.

For the reporting quarter, a CNBC-TV18 poll had expected BPCL to report revenue of ₹1.05 lakh crore. The company, in turn, has reported a topline of ₹1.03 lakh crore. The topline declined by 9.1% when compared to the previous June quarter.

EBITDA or Earnings Before Interest, Tax, Depreciation and Amortisation during the second quarter stood at ₹4,547 crore, which is lower than the CNBC-TV18 poll of ₹7,211 crore. EBITDA declined by 19.5% from the June quarter.

EBITDA margin for the quarter stood at 4.4%, while a CNBC-TV18 poll had expected the figure to be 6.8%.

BPCL’s shares ended 0.9% higher on Tuesday post the tender win announcement at ₹291.55.

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