India''s second largest integrated oil refining and marketing company Hindustan Petroleum Corporation Ltd (HPCL) has decided to generate its own power at the Bhatinda Refinery. HPCL says it cannot afford to rely on the government supplied electricity and to counter this, it may invite bids with Rs 1,250 crore for the power plant. For HPCL, it is going to be a journey from oil to power. This is seen as a major shift from HPCL''s earlier plans to buy power from Ratan Tata''s Tata Power or Sajjan Jindal''s JSW. The company also plans to cut tariffs through competitive bidding. HPCL has already appointed CRISIL and EIL as the consultants and both of them agree that the captive power plant can also supply steam to turn the boilers at the HPCL refinery.
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