BPCL to Set Up Green Hydrogen and Compressed Biogas Plants
Bharat Petroleum Corporation Ltd. has announced that its Board of Directors has approved entering into JVs with Sembcorp Green Hydrogen and GPS Renewables.
September 13, 2024. By Mrinmoy Dey
BPCL will also enter into a joint venture agreement with GPS Renewables Pvt. Ltd. (GPS) for setting up Compressed Biogas (CBG) plants across India.
As part of a JV with Sembcorp, BPCL wants to develop, construct, and operate renewable energy projects and green hydrogen and its derivatives projects across India. It also plans to sell renewable energy and green hydrogen and its derivatives.
With GPS Renewables, BPCL plans to construct, operate and maintain CBG plants across India including the sale of CBG and its derivatives.
In both the JVs, BPCL will have 50 percent shareholding. Consideration for the subscription of share capital will be finalised at the time of signing the definitive agreement.
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