Hindustan Petroleum Corporation Ltd on July 14 inked a memorandum of understanding with Chhattisgarh Government and Chhattisgarh Renewable Energy Development Agency (CREDA) for the formation of alliance company to undertake jatropha plantation on 15,000 plus hectares in the State. CREDA is a State Government body under the Department of Energy appointed for the development of renewable energy sources in Chhattisga rh. According to the MoU, HPCL will hold 74 per cent equity and the rest would be held by CREDA. The bio-diesel would be sold via HPCL retail outlets in Chhattisgarh.
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