BPCL board OKs JV with Sembcorp’s India unit for clean energy projects
They also approved a JV with GPS Renewables.
The board of state-owned Bharat Petroleum Corporation Limited (BPCL) has given its go signal for a joint venture (JV) with Sembcorp Green Hydrogen India Private Limited which aims to develop, construct, and operate renewable energy and green hydrogen projects in India.
In a regulatory filing, BPCL said the JV also covers the sale of renewables energy and green hydrogen, diversifying its business and supporting its energy transition and net zero initiatives.
The board also approved another JV with GPS Renewable Private Limited. This will involve the construction, operation, and maintenance of Compressed Bio Gas (CBG) plants across India, including sale of CBG and its derivatives.
Aside from fueling its net zero efforts, BPCL said this aims to meet the CBG blending obligation mandate.
BPCL will have 50% shareholding in both of the JVs.
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