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Bharat Petroleum Corporation Limited (BPCL), a major public sector oil and gas company, and GPS Renewables Private Limited, a leading cleantech firm specializing in waste-to-energy solutions, have officially inked a Joint Venture (JV) agreement to establish a network of Compressed Biogas (CBG) plants across India. The strategic alliance, formalized in a signing ceremony attended by key officials from both organizations, marks a significant stride towards bolstering Indias energy transition and advancing BPCLs ambitious Net Zero goals. The JV agreement was signed by Shri Sameet Pai, Head (Corporate Strategy) of BPCL, and Shri Mainak Chakraborty, CEO & Co-Founder of GPS Renewables, in the presence of Shri Sanjay Khanna, Director (Refineries) at BPCL, and Shri Raj Kumar Dubey, Director (HR) at BPCL. This collaboration underscores a shared commitment to harnessing sustainable energy solutions in alignment with both national and global climate objectives. The newly formed joint venture will concentrate on converting organic biomass waste into Compressed Biogas, a renewable and environmentally friendly energy source. By deploying advanced waste-to-energy technologies, this initiative directly addresses pressing environmental challenges, including: Agricultural residue management: Providing a sustainable and economically viable alternative to the prevalent practice of stubble burning, which significantly contributes to air pollution and soil degradation across the country. Greenhouse gas reduction: Actively contributing to the mitigation of climate change by substantially reducing greenhouse gas emissions. Sustainable rural development: Establishing a structured value chain for the procurement of agricultural residue, thereby generating an additional and reliable income stream for farmers in rural communities. Over the next few years, the Joint Venture strategically plans to commission 8 to 10 CBG plants across states with substantial agricultural biomass potential, including Bihar, Odisha, Punjab, Uttar Pradesh, and West Bengal. These locations also align with BPCLs existing geographical footprint for city gas distribution networks, promising optimized logistics and efficient operational synergies. Furthermore, this significant initiative is poised to enhance Indias energy security by reducing the nations reliance on imported fossil fuels. This aligns seamlessly with key governmental objectives and schemes, such as the GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) initiative, which champions the utilization of organic bio-agro resources, the Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, which promotes sustainable transportation alternatives, and the recently introduced CBG Blending Obligation (CBO), which mandates the adoption of cleaner fuels. This partnership stands as a compelling example of the growing synergy between public and private sector leaders in fostering innovative and developing sustainable energy solutions that will be instrumental in supporting Indias transition towards a low-carbon future. |
