In the midst of India’s shift toward cleaner energy sources, Hindustan Petroleum Corporation Ltd, the country’s second-largest fuel retailer, plans to expand both its traditional fuel retail outlets and electric charging infrastructure.
The company aims to add approximately 1,000 petrol and diesel fuel stations annually over the next 2-3 years, with a target of reaching around 25,000 outlets in the medium term. Simultaneously, it plans to more than double its electric vehicle charging stations, reaching 5,000 locations.
Amit Garg, Hindustan Petroleum’s Director of Marketing, mentioned during an industry event that they are strategically establishing outlets in areas where they currently lack representation. For electric vehicles, the company is collaborating with industry players such as Ather Energy, Hero MotoCorp, Ola Electric, Tata Power, and Honda Power to set up charging stations and explore battery-swapping stations on revenue-sharing models.
At the end of the 2022-23 fiscal year, Hindustan Petroleum had 21,186 fuel retail outlets and 2,037 electric vehicle charging locations. Currently, the company operates around 21,500 fuel retail outlets and 2,300 charging stations.
Garg highlighted that in India, the demand for energy is expected to rise significantly, and fossil fuels will likely continue to play a crucial role for an extended period. He mentioned that the country’s energy landscape differs from global trends, and fossil fuels will remain relevant for a more extended period.
Comparatively, Indian Oil Corp, the largest oil marketing company in India, had 36,285 outlets and 5,461 electric vehicle charging stations, including 76 battery swapping stations, at the end of the previous year.
Regarding hydrogen as fuel, Garg acknowledged the global interest in it but emphasized the current challenges, including high capital intensity and expenses for consumers. Despite these challenges, he acknowledged that with the government’s target of producing 5 million tons of green hydrogen annually by 2030, Hindustan Petroleum will move in that direction.
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