Indian Oil, GPS Renewables form biogas JV in India

State-owned energy producer Indian Oil (IOCL) has entered into a joint venture agreement with privately-owned clean energy company GPS Renewables to develop biogas plants in India, IOCL announced on June 19. The initial announcement about the joint venture was made last year. 

The 50:50 joint venture will focus on integrating biogas technologies to convert organic waste into compressed biogas (CBG), a clean fuel. These initiatives complement Indian Oil’s long-term low-carbon development strategy and aim to achieve operational net zero by 2046, the company said.

GPS Renewables is a full-stack biofuels firm offering technology and project solutions for climate-positive biofuel projects. Starting from captive biogas plants, GPS Renewables has scaled up to establish some of the world’s largest CBG plants, including the flagship 15 tonnes/day CBG plant in Indore in the state of Madhya Pradesh.

Indian Oil has another biogas joint venture with Gurugram-based renewable energy company EverEnviro Resource Management. Last month, another major Indian state-owned energy company ONGC announced a biogas joint with EverEnviro Resource Management. The joint venture plans to set up 10 CBG plants in India.

India last year announced a phased mandatory blending of CBG in CNG and domestic piped natural gas (PNG) segments starting the fiscal year 2025-26. This move is aimed at reducing reliance on traditional fossil fuels, promoting sustainable energy sources, and achieving net zero emission goals.