BPCL Board approves JV agreement with Sembcorp Green Hydrogen India for Renewable Energy
In the latest development, the BPCL Board approves the JV agreement with Sembcorp Green Hydrogen India. This agreement of JV (Joint Venture) will mainly focus on renewable energy and green hydrogen.
In addition, the BPCL Board has also approved a joint venture agreement with GPS Renewables for compressed biogas plants in India, according to a regulatory filing.
During its meeting, the BPCL’s board considered and approved these joint venture agreements with Sembcorp Green Hydrogen India Pvt. and GPS Renewables Pvt. The company will have a 50% equity in both ventures.
These dual collaborations, the one with Sembcorp is focused on renewable energy and green hydrogen, whereas the other partnership with GPS Renewables will help in developing compressed biogas plants throughout India. All these efforts of BPCL are part of BPCL’s plan for increasing its footprint in the sector of green energy.
The Joint Venture (JV) agreements are subject to regulatory approval by the Department of Investment and Public Asset Management and NITI Aayog.
