IndianOil and GPS Renewables form JV for sustainable energy solutions
Energy

IndianOil and GPS Renewables form JV for sustainable energy solutions

IndianOil and GPS Renewables aim to accelerate the deployment of CBG plants nationwide

  • By ICN Bureau | June 20, 2024

IndianOil has entered into a Joint Venture (JV) Agreement with GPS Renewables, one of the leading biofuels Companies in the country. This association will pave the way for the formation of a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.

The agreement was signed by Mainak Chakraborty, CEO  & Co-Founder, GPS Renewables 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 joint venture 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 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 achieving net-zero target by 2070 for our country.

IndianOil is relentlessly working on green energy pathways to catalyse India's green transition, including emission 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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