Indian Oil Corporation (IOCL) and two other public sector undertaking (PSU) oil companies will install 22,000 electric vehicle (EV) charging stations over the next five years. The charging stations are aimed at supporting the nation’s target to reduce its carbon intensity and reach net-zero emissions by 2070. 

IOCL, the country’s largest, State-controlled refiner by capacity, would set up EV charging facilities at 10,000 fuel outlets over the next three years, Chairman Shrikant Madhav Vaidya said on Tueday. 

Bharat Petroleum Corporation (BPCL) said today that it would set up 7,000 stations over the next five years, while Hindustan Petroleum Corporation (HPCL) has plans for 5,000 stations. 

At the 2021 Climate Change Conference, also known as COP26, Prime Minister Narendra Modi had recently outlined a net-zero emissions target by 2070 for India. 

India is also targeting to increase its low-carbon power capacity to 500 gw by 2030 and meet 50 per cent of its total energy requirements by 2030. 

It is looking to reduce the carbon intensity of its economy by 45 per cent, cut projected carbon emissions by 1 billion tonnes by 2030 and achieve the net-zero target by 2070. 

IOCL planned to install 2,000 charging stations over the next year, with BPCL and HPCL targeting 1,000 each over the same period, Oil Minister Hardeep Singh Puri said on Tuesday. 

In a statement, BPCL said today that building a robust EV charging infrastructure would provide the company a new business opportunity as well as a hedge against the risk of displacement of auto fuels. 

“We are aiming at reaching the count of 7,000 stations to support the growing EV industry, and these stations would be known as Energy Stations,” said BPCL Chairman Arun Kumar Singh. 

Billionaire Mukesh Ambani-led Reliance Industries’ mobility joint venture with BP also launched its first mobility retail outlet in Maharashtra last month, which will offer EV charging and battery swapping. It also finalised an agreement with all-electric, ride-hailing service BluSmart to set up EV charging infrastructure in India.