Bharat Petroleum Corporation Limited (BPCL) has entered into a 50:50 joint venture with Sembcorp Green Hydrogen India, a subsidiary of Singapore's Sembcorp Industries. The partnership aims to develop renewable energy and green hydrogen projects across India.
About the Joint Venture
The collaboration will focus on:
- Producing and selling renewable energy
- Developing green hydrogen and its derivatives
- Exploring green ammonia production
- Implementing emissions reduction solutions for ports
- Adopting emerging green fuel technologies
Why This Partnership Matters
BPCL brings its petroleum sector expertise and established infrastructure, while Sembcorp contributes its experience in renewable energy. Sembcorp currently operates 6 GW of renewable assets in India, which will help enable large-scale green hydrogen production at competitive costs.
BPCL's Background
- India's second-largest oil marketing company
- Government holds 52.98% stake (as of Dec 2024)
- Recently achieved 'Maharatna' status, granting greater operational freedom
- Reported ₹4,649 crore net profit in Q3 FY25 (37% YoY growth)
BPCL aims to build a 10 GW renewable energy portfolio as part of its net-zero commitment by 2040. This JV will play a key role in achieving these sustainability targets.