HPCL, Shree Renuka to build ethanol plant

Mumbai's Hindustan Petroleum announced a deal today to set up an ethanol plant with Shree Renuka Sugars, also based in Mumbai.

The companies signed a memorandum of understanding for the formation of a joint venture to build an integrated sugar plant with associated facilities for the production of ethanol. Financial terms of the agreement were not disclosed.

State-run Hindustan Petroleum, also known as HPCL, said the new plant will go up in the state of Maharashtra.

Capacity at the integrated facility will reportedly be 240 kiloliters per day, with a co-generation power capacity of 30 megawatts.

In July, HPCL announced a deal with the Chhattisgarh state government and the Chhattisgarh Renewable Energy Development Agency to plant over 15,000 hectares of jatropha, a biodiesel crop (see Hindustan Petroleum in jatropha plantation venture).

Under that agreement, HPCL will hold 74 percent of the joint venture, with the Chhattisgarh Renewable Energy Development Agency holding 26 percent. The agency will be responsible for obtaining wasteland for the plantation of jatropha from the Chhattisgarh government.

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