BPCL to set up joint ventures with Sembcorp, GPS renewables

State-run Bharat Petroleum Corporation Ltd (BPCL) on Thursday said it is setting up a joint venture with Sembcorp Green Hydrogen India for clean hydrogen projects and with GPS Renewables to build compressed biogas plants across India.

In a regulatory filing, the company said, that the ventures will help BPCL achieve its net zero goal and support India’s energy transition. BPCL added that the CBG joint venture will help the company meet the CBG blending obligation mandate and support the energy transition and net zero initiatives of BPCL.

The refiner will sign agreements after getting regulatory approvals Separately, the BPCL board also approved $136 million for pipeline capacity expansion.


BPCL's scrip ended at Rs 343.55, up 0.96% on the BSE.