BPCL's JVs with SGHIPL and GPS Renewables
12th September 2024
Bharat Petroleum Corporation Limited (BPCL) has intimated that its Board of Directors at its meeting held on 12th September 2024 has approved entering into a joint venture agreement with Sembcorp Green Hydrogen India Pvt. Ltd (SGHIPL) and entering into a joint venture agreement with M/s. GPS Renewables Pvt. Ltd (GPS)
JV with SGHIPL
The JV with SGHIPL is in the domain of Renewable Energy and Green Hydrogen, subject to regulatory approvals from NITI Aayog, DIPAM etc.
Shareholding pattern of proposed JV company shall be BPCL : 50% / SGHIPL : 50%
The scope of the JV is 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)
The rationale of the JV is diversification of the business and to support the energy transition and net zero initiatives of BPCL
JV with GPS Renewables
The JV with GPS is for setting up of Compressed Biogas (CBG) plants across India, subject to regulatory approvals from NITI Aayog, DIPAM etc.
Shareholding pattern of proposed JV company shall be BPCL : 50% / GPS : 50%
The scope of the JV is to construct, operate and maintain CBG plant across India including sale of CBG and its derivatives
The rationale is to meet the CBG blending obligation mandate and to support the energy transition and net zero initiatives of BPCL