Bharat Petroleum Corporation Limited (BPCL) is advancing its push into the renewable energy sector through two new strategic joint ventures. The state-owned energy giant announced that its Board of Directors has approved partnerships with Sembcorp Green Hydrogen India Pvt. Ltd. and GPS Renewables Pvt. Ltd., as part of its broader efforts to meet its net-zero targets and drive sustainable energy initiatives across India.
In an exchange filing on Thursday, September 12, BPCL confirmed these joint ventures, signaling a major step forward in its renewable energy strategy. The collaboration with Sembcorp Green Hydrogen India is focused on the development, construction, and operation of renewable energy and green hydrogen projects nationwide. This partnership is expected to accelerate the production and commercialization of green hydrogen, positioning BPCL as a key player in India’s evolving energy landscape. The company aims to both produce and sell renewable energy and green hydrogen, aligning with India’s goals of reducing carbon emissions and promoting clean energy.
The second joint venture with GPS Renewables focuses on BPCL’s entry into the biogas sector. BPCL aims to establish, operate, and maintain compressed biogas plants across India. These plants will not only produce compressed biogas but will also tap into its derivatives, supporting BPCL’s vision of creating a circular economy and expanding its renewable fuel portfolio.
Both agreements are subject to regulatory approvals from key government bodies, including NITI Aayog and the Department of Investment and Public Asset Management (DIPAM). The company is confident these ventures will play a significant role in its long-term sustainability strategy, helping India meet its ambitious renewable energy and decarbonization targets.
BPCL’s move comes at a time when major energy companies globally are transitioning towards greener energy solutions, and India is ramping up its efforts to reduce reliance on fossil fuels. By diversifying into sectors like green hydrogen and biogas, BPCL is positioning itself to become a leader in India’s energy transition, while meeting its own net-zero goals.
These joint ventures are expected to unlock significant opportunities for BPCL, not only in terms of business growth but also in contributing to the country’s renewable energy capacity.
Future Outlook
BPCL’s partnerships with Sembcorp and GPS Renewables signal the company’s intent to become a major player in India’s clean energy future. As regulatory approvals move forward, these projects are likely to shape the next phase of India’s energy transformation, offering sustainable solutions that contribute to both the national and global fight against climate change.
