You have come to the right place to know about the strategic agreement between CIAL and BPCL to establish the world’s first green hydrogen plant in an airport. Green hydrogen is the best alternative to traditional energy production by burning fossil fuels, as it is made from water with zero carbon emissions. With most countries committed to decarbonising the world by 2050, green hydrogen plants are the need of the hour. The significant reason for this is the global colossal damage caused by climate change. Green energy is the best renewable energy source to safeguard Mother Earth from further damage from carbon emissions.
CIAL or Cochin International Airport Ltd in Kerala, India, already fully powered by solar energy, becomes the first airport in the world to have a hydrogen plant. Also, CIAL is only next to KSEB or Kerala State Electricity Board to produce energy as it has so far crossed, making over 25 crores of green energy units.
BPCL, or Bharat Petroleum Corporation Limited, is India’s second-largest downstream oil producer ranking 309 on the Fortune list. It is an Indian government-owned PSU or public sector unit committed to attaining environmental sustainability to achieve its net zero goals by 2040. On February 15, 2024, CIAL and BPCL announced signing an MOU for a 1,000 KW green hydrogen project to be the first in an airport. BPCL, with its over a century-old experience in energy production, will provide the technological expertise.
If you want to know all the details of the agreement between BPCL and CIAL for setting up the green hydrogen plant, the first airport in the world to raise CIAL Cochin Share Price. The company is also planning an IPO for you to invest in pre-IPO to get high returns.
What is CIAL?
CIAL or Cochin International Airport Ltd is unique in many ways compared to the other airports in India, and it has many fantastic features. Situated in Kochi, a city in Kerala in South India started as an airstrip in 1936 to become the third busiest airport in India regarding international traffic. Unlike other airports owned by the Indian Government, CIAL, India’s first green field airport, is a PPP or public-private partnership model developed airport. Around 10,000 NRI or nonresident Indians in 32 countries funded the project to run only on solar energy. Hence, CIAL has now reduced its carbon footprint by 1.6 lakh metric tons to do more than its share to save the only planet people can live on.
Highlights of the agreement between CIAL and BPCL to set up a green hydrogen plant
CIAL, a PPP-funded airport, and BPCL, one of India’s best PSU or public sector units, inked an agreement on February 15, 2024, to set up a green hydrogen plant. BPCL, with its vast experience in the energy industry, will provide the technical expertise to set up the 1000 KW green hydrogen unit in the fully solar-powered airport. Green hydrogen is one of the best renewable energy sources, from water to online, with zero-carbon energy strategies. As per IEA reports, if the energy needed gets produced from green hydrogen instead of burning fossil fuels every year, it would save up to 830 million tons of CO2 or carbon dioxide emission. As many researchers have confirmed that it is only the CO2 that causes climate change disasters, it would help save Mother Earth. The following are a few highlights of the strategic agreement between BPCL and CIAL to start the first green hydrogen plant in an airport worldwide.
- The energy produced from the green hydrogen plant stored in the fueling station in the airport will power the vehicles within it to reduce carbon emissions.
- As per the agreement, the 1,000 KW green hydrogen project in the CIAL airport will be completed by BPCL, providing all expertise within 2025
- The agreement between CIAL and BPCL will pave the way for airports across India and worldwide to start green hydrogen plants to move towards sustainability.
- CIAL, already fully powered by solar energy, and BPCL moving towards Atma Nirbhar, provides world-class facilities and equipment for setting up the first hydrogen plant within the airport setup
How will CIAL and BPCL’s agreement impact CIAL’s unlisted shares and IPO?
CIAL, with PPP private and public partnership funding from many investors and government with excellent leadership, has become one of the best airports in India and worldwide. This is because it is powered by solar energy and takes many initiatives to increase its profits and move towards sustainability. So far, CIAL has produced over 25 crore units of solar power to reduce carbon emissions to around 1,60,000 metric tonnes. Unlike other airports, it has a unique business model that allows it to increase its assets to about 2,500 crore rupees. CIAL airport started giving dividends to its investors from 2003 to 2004, giving around 282% payouts. Also, in 2023, it came out with a rights issue of Rs. 10 at a premium of Rs. 40 to its existing investors. It plans to launch an IPO soon to reward its trusted investors and fund its expansion plans. The agreement signed between BPCL and CIAL positively impacts its overall performance and sustainability and makes it famous worldwide. Hence, the unlisted Cochin International Airport shares rose from Rs. 170 in 2023 to now trade at over Rs. 270.
Conclusion:
The above facts will not only provide you with all the information about the agreement signed by CIAL and BPCL to start the world’s first green hydrogen plant in an airport but also all about Cochin International Airport Ltd and how the agreement has boosted its unlisted share price along with its financials for you to contact Stockify, the best online platform to buy it in the grey market to make huge profits in the short and long term.
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FAQs
What is CIAL, and why is it significant in India’s aviation industry?
CIAL (Cochin International Airport Ltd) is India’s first greenfield airport, operating under a unique PPP model. It’s renowned for its sustainability initiatives, fully powered by solar energy, and reducing carbon emissions.
How did CIAL and BPCL collaborate to pioneer the world’s first airport-based green hydrogen plant?
CIAL and BPCL signed an MOU on February 15, 2024, to establish a 1,000 KW green hydrogen plant at the airport. BPCL, leveraging its extensive energy expertise, will provide technical support for the project.
What are the implications of CIAL and BPCL’s agreement on CIAL’s unlisted shares and IPO plans?
The strategic partnership enhances CIAL’s sustainability efforts and global reputation, positively impacting its unlisted share price. The agreement underscores CIAL’s commitment to innovation and could boost investor confidence ahead of its planned IPO.
How will the green hydrogen plant at CIAL contribute to environmental sustainability?
The energy generated from the green hydrogen plant will power vehicles within the airport, significantly reducing carbon emissions. This initiative aligns with global efforts to mitigate climate change and transition to renewable energy sources.
Why should investors consider CIAL’s unlisted shares as a promising investment opportunity?
CIAL’s successful track record, sustainable business model, and strategic collaborations like the one with BPCL make its unlisted shares attractive. Investors can capitalize on the airport’s growth trajectory and potential for long-term returns.
