BPCL Approves JVs for Renewable Energy and Green Hydrogen Projects in India
Key Ideas
  • BPCL approved a JV with Sembcorp Green Hydrogen India to develop renewable energy and green hydrogen projects, supporting its energy transition and net zero initiatives.
  • Another JV with GPS Renewable Private Limited was also approved for the construction and operation of Compressed Bio Gas (CBG) plants across India.
  • These initiatives aim to diversify BPCL's business, meet CBG blending obligation mandate, and fuel its net zero efforts.
  • BPCL will hold a 50% shareholding in both JVs, marking significant steps towards sustainable energy practices in India.
The board of Bharat Petroleum Corporation Limited (BPCL) in India has approved two joint ventures (JVs) aimed at advancing renewable energy and sustainable practices. The first JV with Sembcorp Green Hydrogen India focuses on developing, constructing, and operating renewable energy and green hydrogen projects. This move aligns with BPCL's goals of supporting its energy transition and net zero initiatives. The second approved JV is with GPS Renewable Private Limited, involving the construction, operation, and maintenance of Compressed Bio Gas (CBG) plants across India. This JV will also include the sale of CBG and its derivatives, helping BPCL meet the CBG blending obligation mandate. By diversifying its business through these JVs, BPCL is taking significant steps towards sustainability and contributing to India's renewable energy sector. With a 50% shareholding in both JVs, BPCL is positioning itself as a key player in the country's shift towards cleaner energy sources.
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