Indian Oil Forms Biofuel Joint Venture with GPS Renewables

By siliconindia  |  Wednesday, 19 June 2024, 06:39:47 PM IST

Indian Oil Forms Biofuel Joint Venture with GPS Renewables
Indian Oil Corporation, a leading public sector entity, has forged a significant partnership with GPS Renewables Private Limited to establish a new joint venture focused on advancing biofuel technologies in India. The agreement, signed by Mainak Chakraborty, CEO & Co-Founder of GPS Renewables, and Santanu Gupta, Executive Director (Alternative Energy) of Indian Oil, marks a pivotal step towards promoting sustainable energy solutions.
The 50:50 joint venture aims to leverage advanced biogas technologies to convert organic waste into compressed biogas (CBG), which serves as a cleaner and renewable energy source. This initiative aligns with Indian Oil's commitment to reducing greenhouse gas emissions and supports its long-term strategy to achieve operational net-zero by 2046. Furthermore, it contributes to India's national goal of achieving net-zero emissions by 2070.
The partnership between Indian Oil and GPS Renewables will facilitate the rapid deployment of CBG plants across India. GPS Renewables, known for its expertise in biofuels, has successfully implemented large-scale CBG projects, including the renowned 15 TPD CBG Plant in Indore, Madhya Pradesh.
Indian Oil's emphasis on green energy pathways underscores its dedication to catalyzing India's transition towards sustainable practices. The corporation is actively involved in emission mitigation, energy efficiency enhancements, fuel substitution, and renewable energy ventures.
With its robust infrastructure and technological capabilities, GPS Renewables will contribute vital insights and solutions to drive climate-positive biofuel projects within the joint venture. Together, Indian Oil and GPS Renewables aim to pioneer advancements in the biofuel sector, fostering environmental sustainability and energy security for the nation.
The establishment of this joint venture signifies a strategic alliance aimed at harnessing India's biofuel potential, steering the country towards a greener and more sustainable future.

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