On September 12, Bharat Petroleum Corporation Ltd (BPCL) announced that its board of directors has approved two joint ventures to advance the company’s energy transition and net-zero goals.
BPCL will form a 50:50 joint venture with Sembcorp Green Hydrogen India Private Ltd (SGHIPL) to develop renewable energy and green hydrogen projects throughout India. Scope of this JV aims to develop, construct, operate renewable energy projects and green hydrogen (and its derivatives) projects across India including sale of renewables energy and green hydrogen (and its derivatives).
Additionally, BPCL has sanctioned a joint venture with GPS Renewables Private Ltd to establish compressed biogas (CBG) plants across India. This 50:50 collaboration aims to to construct, operate and maintain CBG plant across India including sale of CBG and its derivatives.
Both ventures are in line with BPCL’s long-term strategy to diversify its operations and support India’s energy transition efforts. The specifics of the share capital and the authorized share capital for both joint ventures will be finalized when the definitive agreements are signed.
