To enhance sustainable energy solutions, IndianOil, renowned as the ‘Energy of India,’ has inked a Joint Venture Agreement with GPS Renewables Private Limited, a leading biofuels company in India. This collaboration will establish a 50:50 joint venture company aimed at promoting biofuel adoption nationwide.
The agreement was formalized by Mainak Chakraborty, CEO & Co-Founder of GPS Renewables Pvt Ltd, and Santanu Gupta, ED (Alternative Energy) of IndianOil. The ceremony was attended by prominent IndianOil dignitaries, including MSujoy Choudhury, Director (P&BD), Senthil Kumar N., Director (Pipelines) with Additional Charge of Director (Refineries), and Alok Sharma, Director (R&D). V Subramaniam, Chairman of GPS Renewables, alongside other senior officials from both organizations, was also present.
The joint venture will harness advanced biogas technologies to convert organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This initiative aims to significantly reduce greenhouse gas emissions while offering a sustainable alternative to conventional fossil fuels. Leveraging their combined expertise, IndianOil and GPS Renewables plan to accelerate the deployment of CBG plants across India. These efforts align with IndianOil’s long-term strategy for low-carbon development and achieving operational net zero by 2046, contributing to India’s goal of reaching net-zero emissions by 2070.
CBG offers numerous benefits, enhancing India’s energy security by reducing reliance on imported fossil fuels and boosting the rural economy by creating local employment opportunities.
IndianOil is a diversified, integrated energy major with a presence across the entire hydrocarbon value chain, from refining and pipeline transportation to exploration, production of crude oil and gas, petrochemicals, and alternative energy sources. The company is dedicated to catalyzing India’s green transition through emission mitigation, energy efficiency, fuel replacement, and renewable energy projects.
GPS Renewables, a full-stack biofuels firm, provides technology and project solutions for climate-positive biofuel projects. From captive biogas plants, GPS Renewables has expanded to establish some of the world’s largest CBG plants, including the flagship 15 TPD CBG Plant in Indore, Madhya Pradesh.
