Schedule a Call Back
BPCL approves JV with Sembcorp Green Hydrogen India and GPS Renewables
Industry News- Sep 13,24
BPCL will hold a 50% stake in each joint venture, aiming to accelerate its energy transition and meet its net-zero goals.
Bharat Petroleum Corporation Limited (BPCL) is expanding its renewable energy footprint through two newly approved joint ventures. On September 12, BPCL's Board of Directors greenlit partnerships with Sembcorp Green Hydrogen India Pvt. Ltd. and GPS Renewables Pvt. Ltd. to bolster its renewable energy initiatives.
The joint venture with Sembcorp Green Hydrogen India will focus on developing, building, and operating renewable energy and green hydrogen projects across India. This includes the sale of renewable energy and green hydrogen. BPCL also plans to establish and operate compressed biogas (CBG) plants across the country in collaboration with GPS Renewables, facilitating the production and sale of compressed biogas and its derivatives.
Both agreements are pending regulatory approvals from authorities such as NITI Aayog and DIPAM. BPCL will hold a 50% stake in each joint venture, aiming to accelerate its energy transition and meet its net-zero goals.
BPCL's move comes as part of its broader strategy to invest in sustainable energy solutions. In June, GPS Renewables formed a joint venture with Indian Oil Corporation (IOC) to promote sustainable energy, while Sembcorp recently laid the foundation for a Rs 360 billion Green Ammonia plant in Tamil Nadu.
Despite these forward-looking ventures, BPCL reported a sharp 73.3% drop in net profit in Q1FY25, with earnings of Rs 28.41 billion, down from Rs 106.44 billion in the same period last year.
(Mint)
Related Stories
Machine Tools & Accessories
SunBridge BioEnergy Starts Ethanol Production at 300 KLD Seoni Facility
SunBridge BioEnergy has commenced commercial production at its 300 KLD ethanol facility in Seoni and plans to expand total capacity to 700 KLD with a new Raipur plant.
Read moreOther Industrial Products
TOTO Achieves 40% CO2 Reduction with Green Hydrogen Manufacturing
TOTO has become the world’s first sanitaryware manufacturer to use green hydrogen in commercial production, following a 40 per cent reduction in CO? emissions since 2022.
Read moreElectrical & Electronics
IESA Launches BESS Initiative to Accelerate C&I Energy Storage Adoption
IESA’s new “BESS for C&I” initiative aims to accelerate commercial and industrial battery storage adoption by addressing cost, policy and awareness challenges.
Read moreRelated Products
Programmable Controllers - Pcd-33a Series
CHEMICAL PROCESS, FOOD/PHARMA EQUIPMENT & ANALYTICAL INSTRUMENTS
Pro-Med Instruments (P) Ltd offers a wide range of programmable controllers - PCD-33A Series.
Gasket Graphite Powder
CHEMICAL PROCESS, FOOD/PHARMA EQUIPMENT & ANALYTICAL INSTRUMENTS
Arihant Packing & Gasket Company offers a wide range of gasket graphite powder.
Asahi Kasei expands 3D printing filament sales in North America
CHEMICAL PROCESS, FOOD/PHARMA EQUIPMENT & ANALYTICAL INSTRUMENTS
Asahi Kasei, a leading resin and compounding technology provider, has initiated the sales of 3D printing (3DP) filaments in North America through Asahi Kasei Plastics North America (APNA). The soft la Read more
latest News
Subscribe to iNoW
For Industry News on WhatsApp, Give a Miss Call on: +91 84228 74016
