Bharat Petroleum Corporation (BPCL) and GPS Renewables have entered into a Joint Venture (JV) agreement to establish Compressed Biogas (CBG) plants across India. This strategic alliance is a significant step towards advancing India's energy transition and contributing to BPCL's Net Zero goals.
The joint venture will focus on converting organic Biomass waste into Compressed Biogas, a renewable and eco-friendly energy source. By leveraging advanced waste to-energy technologies, this initiative aims to address critical environmental challenges, including -
1. Agricultural residue management: Providing a viable solution to stubble burning, which contributes to air pollution and soil degradation.
2. Greenhouse gas reduction: Mitigating climate change by reducing emissions.
3. Sustainable rural development: Creating a structured value chain for agri-residue procurement, generating an additional income source for farmers.
The Joint Venture plans to establish 8 – 10 plants across Bihar, Odisha, Punjab, Uttar Pradesh and West Bengal, over the next few years, which offer significant agri biomass potential for CBG production and aligned with BPCL's existing geographical allocation for city gas distribution. This reduces logistics costs and promotes efficient operations.