BPCL to Form Joint Ventures for Renewable Energy and Green Hydrogen Production in India
Key Ideas
- BPCL's board approved joint ventures with SGHIPL and GPS Renewables for renewable energy projects and green hydrogen production in India.
- The partnership with SGHIPL will focus on developing and operating renewable energy projects, including green hydrogen production and sale.
- BPCL and SGHIPL will each hold a fifty percent stake in the proposed joint venture company.
- In addition to green hydrogen projects, BPCL also approved a partnership with GPS Renewables to establish compressed biogas (CBG) plants nationwide.
Bharat Petroleum Corporation Ltd (BPCL) has made significant strides towards renewable energy and green hydrogen production in India. The company's board has given the green light for joint ventures with Sembcorp Green Hydrogen India (SGHIPL) and GPS Renewables. The partnership with SGHIPL is particularly focused on developing renewable energy projects across India, with a key emphasis on green hydrogen and its derivatives. Both BPCL and SGHIPL will have an equal stake in the proposed joint venture company, showcasing a commitment to collaboration in the sustainable energy sector. Furthermore, BPCL's collaboration with GPS Renewables highlights the company's dedication to environmentally friendly initiatives by establishing compressed biogas plants throughout the country. These strategic partnerships underscore BPCL's commitment to driving the transition towards clean energy sources and fostering sustainable practices in India's energy landscape.