Bharat Petroleum Corporation (BPCL) and Sembcorp Green Hydrogen India have announced a 50:50 joint venture to boost renewable energy and green hydrogen projects in India. The collaboration, which was initially disclosed in September the previous year, focuses on the production, operation, and sale of renewable energy, green hydrogen, and its derivatives, including green ammonia. The joint venture aims to leverage Sembcorp's expertise in renewables and BPCL's experience in the petroleum sector to drive innovation in green energy solutions. Vipul Tuli, from Sembcorp, highlighted the commitment to support renewable energy and green hydrogen development in India, aiming to aid in decarbonizing hard-to-abate sectors. G Krishnakumar, the Chairman of BPCL, emphasized the joint effort to explore innovative renewable energy and green hydrogen solutions to achieve India's climate goals and BPCL's net-zero emissions target by 2040. The collaboration also plans to delve into projects related to green ammonia production, emissions reduction, and other emerging green fuel technologies. The joint venture's formation has positively impacted BPCL's shares, which are expected to witness growth based on the average target price, showing an upside of 41% from current market levels. Despite the recent market performance, BPCL shares have gained 72% over the past two years. This joint venture signifies a significant step towards promoting sustainable and green energy practices in India.