BPCL enters joint venture with GPS Renewables for CBG plants

Bharat Petroleum Corporation Limited (BPCL) has formalized a strategic partnership with GPS Renewables Private Limited to develop Compressed Biogas (CBG) plants throughout India. The joint venture, initially capitalized at INR 80,00,00,000 with equal equity participation from both companies, aims to construct, operate, and maintain CBG plants, marketing the resulting CBG and related derivatives. BPCL, in a filing to the National Stock Exchange (NSE: BPCL) and the Bombay Stock Exchange (BSE: 500547), indicated that this initiative aligns with the company's commitment to meeting CBG blending obligations and promoting energy transition towards net-zero emissions. The initial authorized share capital is INR 200,00,00,000. Leadership roles within the joint venture will rotate, with GPS Renewables nominating the first CEO and BPCL nominating the first CFO.