IndianOil, GPS Renewables form JV for sustainable energy solutions
In a landmark step towards fostering sustainable energy solutions in India, IndianOil, the “Energy of India,” has entered into a joint venture (JV) agreement with GPS Renewables Pvt. Ltd., one of the leading biofuels companies in the country. This association will pave the way for the formation of a 50:50 JV company dedicated to advancing biofuel adoption across the country.
The agreement was signed by Mainak Chakraborty, CEO and Co-Founder, GPS Renewables Pvt. Ltd. and Santanu Gupta, ED (Alternative Energy), IndianOil in the presence of IndianOil dignitaries Sujoy Choudhury, Director (P&BD), Senthil Kumar N., Director (Pipelines) with Addl. Charge of Director (Refineries), and Alok Sharma, Director (R&D). V Subramaniam, Chairman of GPS Renewables, was also present besides other senior officials from both the organizations.
The JV will focus on integrating advanced biogas technologies to convert organic waste into compressed biogas (CBG), a cleaner and renewable energy source. This will significantly reduce greenhouse gas (GHG) emissions while providing a sustainable alternative to traditional fossil fuels.
By leveraging their combined expertise, IndianOil and GPS Renewables aim to accelerate the deployment of CBG plants nationwide. These initiatives complement IndianOil’s long-term low-carbon development strategy and to achieve operational net-zero by 2046, which will also help achieve net-zero target by 2070 for the country. CBG offers numerous benefits to India and the environment. For the country, it promotes energy security by reducing dependence on imported fossil fuels and supports the rural economy by creating local employment opportunities.
IndianOil is a diversified, integrated energy major with business interests encompassing the entire hydrocarbon value chain—from refining, pipeline transportation and marketing, to exploration and production of crude oil and gas, petrochemicals, and alternative energy sources. IndianOil is relentlessly working on green energy pathways to catalyze India’s green transition, including emissions mitigation, energy efficiency, fuel replacement and renewable energy projects.
GPS Renewables is a full-stack biofuels firm offering technology and project solutions for climate-positive biofuel projects. Starting from captive biogas plants, GPS Renewables has scaled up to set up some of the world’s largest CBG plants, including the flagship 15-tpd CBG Plant in Indore, Madhya Pradesh.
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