Bharat Petroleum Corporation has officially entered into a joint venture with Bengaluru-based GPS Renewables to establish Compressed Biogas (CBG) plants across India. The agreement was signed on April 23, 2025, as part of BPCL’s broader strategy to support India’s clean energy goals and meet upcoming CBG blending obligations.
50:50 joint venture for clean energy expansion
As per the agreement, BPCL and GPS Renewables will each hold a 50% stake in the newly formed private joint venture company. The initial paid-up capital of the JV stands at Rs 8 crore, equally subscribed by both entities. The authorised share capital is set at Rs 200 crore, indicating significant scale and expansion potential.
The scope of this JV includes the construction, operation, and maintenance of CBG plants, as well as the sale of biogas and its derivatives across India.
Governance and structure
The JV will operate as a private limited company, with equal rights granted to both partners in terms of director appointments. BPCL will nominate the first chairman, while the CEO and CFO positions will rotate every three years, starting with the CEO from GPS and CFO from BPCL.
This move aligns with BPCL’s energy transition and net-zero initiatives, reinforcing its position in the renewable energy space.
FAQs
What is the purpose of BPCL’s joint venture with GPS Renewables?
To construct and operate Compressed Biogas plants across India and support BPCL’s green energy and net-zero goals.
What is the shareholding ratio in the joint venture?
BPCL and GPS Renewables each hold a 50% stake.
How much capital is being infused initially?
Rs 8 crore as paid-up capital, with an authorised capital of Rs 200 crore.
Will this joint venture impact BPCL’s CBG blending targets?
Yes, it is intended to help BPCL meet mandated CBG blending obligations in the coming years.
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