BPCL forms JV with Sembcorp to explore RE projects
This strategic partnership of BPCL with Sembcorp aims to support India’s energy transition and development goals.
New Delhi: Bharat Petroleum Corporation Limited (BPCL) has announced that BPCL and Sembcorp Green Hydrogen India Private Limited (SGHIPL), a wholly owned subsidiary of Sembcorp Industries (Sembcorp), have entered into a joint venture (JV) agreement to explore renewable energy and green hydrogen projects across India. This strategic partnership aims to support India’s energy transition and development goals.
The JV will explore renewable energy projects and green hydrogen production. It will also consider projects in green ammonia production & bunkering, emissions reduction for port operations and other emerging green fuel technologies. The potential projects will leverage Sembcorp’s renewables experience and BPCL’s expertise in the petroleum sector and infrastructure.
Shares of the Maharatna PSU are trading higher by 0.63% at Rs 287.70 at NSE.
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