BPCL Forms JVs With Sembcorp And GPS Renewables For Green Hydrogen, Biogas – EQ
In Short : Bharat Petroleum Corporation Limited (BPCL) has formed two joint ventures as part of its strategy to support India’s clean energy transition and achieve its net-zero goals. One JV with Sembcorp Green Hydrogen India will focus on renewable energy and green hydrogen projects, while the other JV with GPS Renewables will establish compressed biogas (CBG) plants across the country. Both ventures, with 50% BPCL ownership, align with its commitment to sustainable energy and carbon reduction initiatives.
In Detail : Bharat Petroleum Corporation (BPCL) has said it has plans to form two new joint ventures aimed at accelerating its clean energy initiatives. The state-owned oil refiner will collaborate with Sembcorp Green Hydrogen India to develop clean hydrogen projects and with GPS Renewables to build compressed biogas (CBG) plants across the country.
Both ventures are part of BPCL’s broader strategy to achieve its net-zero emissions target and support India’s transition to cleaner energy sources.
In its regulatory filing, BPCL mentioned the significance of these ventures in fulfilling its sustainability goals. The partnership with GPS Renewables is expected to help the company meet the government’s CBG blending mandate, aligning with the national push towards renewable energy and reduced carbon footprints.
BPCL stressed that these initiatives are crucial for the company’s contribution to India’s energy transition while advancing its own efforts towards carbon neutrality.
The agreements for these joint ventures will be finalised once BPCL receives necessary regulatory approvals. In a separate move, BPCL’s board also approved an investment of USD 136 million to expand its pipeline capacity, further supporting its infrastructure to support the company’s evolving energy mix.
