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Following its earlier announcement on September 13, 2024, Bharat Petroleum Corporation Limited (BPCL) and GPS Renewables Private Limited have officially entered into a Joint Venture (JV) agreement to establish Compressed Biogas (CBG) plants across India. This strategic alliance is a significant step towards advancing India’s energy transition and contributing to BPCL’s Net Zero goals.
The JV agreement was formally signed by Shri Sameet Pai, Head (Corporate Strategy), BPCL and Shri Mainak Chakraborty, CEO & Co-Founder, GPS Renewables Private Limited in the presence of Shri Sanjay Khanna, Director (Refineries) BPCL and Shri Raj Kumar Dubey, Director (HR) BPCL. This collaboration signifies a commitment by both organizations to harness sustainable energy solutions in alignment with national and global climate objectives.
The joint venture will focus on converting organic Biomass waste into Compressed Biogas, a renewable and eco-friendly energy source. By leveraging advanced waste-toenergy technologies, this initiative aims to address critical environmental challenges, including –
1. Agricultural residue management: Providing a viable solution to stubble burning, which contributes to air pollution and soil degradation.
2. Greenhouse gas reduction: Mitigating climate change by reducing emissions.
3. Sustainable rural development: Creating a structured value chain for agri-residue procurement, generating an additional income source for farmers
The Joint Venture plans to establish 8 – 10 plants across Bihar, Odisha, Punjab, Uttar Pradesh and West Bengal, over the next few years, which offer significant agri biomass potential for CBG production and aligned with BPCL’s existing geographical allocation for city gas distribution. This reduces logistics costs and promotes efficient operations.
Moreover, this initiative will enhance India’s energy security by reducing dependence on imported fossil fuels, aligning with key Government’s objectives, including GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) initiative, which promotes organic bioagro resources, the Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, which fosters sustainable transportation alternatives, and CBG Blending Obligation (CBO), which encourages clean fuel adoption.
This partnership exemplifies the growing collaboration between public and private sector leaders in fostering innovative and developing sustainable energy solutions to support India's low-carbon future.
ABOUT BHARAT PETROLEUM CORPORATION LTD. (BPCL)
Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the club of companies having greater operational & financial autonomy.
Bharat Petroleum’s Refineries at Mumbai, Kochi and Bina have a combined refining capacity of around 35.3 MMTPA. Its marketing infrastructure includes a network of installations, depots, fuel stations, aviation service stations and LPG distributors. Its distribution network comprises over 23,500+ Fuel Stations, over 6,200+ LPG distributorships, 500+ Lubes distributorships, 80 POL storage locations, 54 LPG Bottling Plants, 79 Aviation Service Stations, 5 Lube blending plants and 5 cross-country pipelines.
Bharat Petroleum is integrating its strategy, investments, environmental and social ambitions to move towards a sustainable planet. The company has Electric vehicle charging stations at 6500+ Fuel Stations.
With a focus on sustainable solutions, the company is developing an ecosystem and a road-map to become a Net Zero Energy Company by 2040, in Scope 1 and Scope 2 emissions. Bharat Petroleum has been partnering communities by supporting several initiatives connected primarily in the areas of education, water conservation, skill development, health, community development, capacity building and employee volunteering. With ‘Energising Lives’ as its core purpose, Bharat Petroleum’s vision is to be an admired global energy company leveraging talent, innovation & technology.
ABOUT GPS Renewables Private Limited
GPS Renewables provides end-to-end solutions for the development, production and distribution of biofuels. The company has been at the forefront of biofuel technology and project development to accelerate the substitution of fossil fuels with biofuels, spanning CBG (Compressed Biogas) / RNG (Renewable Natural Gas), and SAF (Sustainable Aviation Fuel).
GPS Renewables has set up over 100 biogas plants, including Asia’s largest RNG plant based on MSW (Municipal Solid Waste) in Indore which was inaugurated by the Honourable Prime Minister of India, Shri Narendra Modi. Through their extensive focus on building quality climate infrastructure, GPS Renewables has established itself as one of India’s leading biofuels firms with strong focus on R&D. In recent developments, GPS Renewables acquired Germany-based Proweps Envirotech GmbH, a leading design and engineering company specializing in technologies for utilizing municipal and industrial organic waste and agri-residue for biogas production.
Note: This story has not been edited by The Polymerupdate Editorial team and is auto-generated from a syndicated feed.
