Indian oil marketing company Bharat Petroleum Corp Ltd, or BPCL, has set up a joint venture (JV) with a unit of Singapore’s Sembcorp Industries Ltd to develop green hydrogen and renewable energy projects in India.
According to state-run BPCL’s bourse filing on Tuesday, the new entity will also consider projects related to the production and bunkering of green ammonia, lowering emissions for port operations. The development of other green fuel technologies will be pursued as well.
With the partnership, BPCL and Sembcorp Green Hydrogen India Private Limited (SGHIPL) aims to support India’s energy transition targets and its goal of having 500 GW of renewable energy capacity and produce at least five million tonnes of green hydrogen per year by 2030. The companies intend to bet on Sembcorp’s renewables experience and BPCL’s expertise in the petroleum sector and infrastructure.
“We are committed to building a robust renewable energy portfolio, with a target of 10 GW, to meet the energy needs of tomorrow and become a net zero energy company by 2040,” said Shri G Krishnakumar, managing director of BPCL.
Sembcorp aims to deepen its presence in India, where it already owns a 6-GW renewables portfolio. Early in 2025, it said it will study the development of a production facility for green hydrogen and its derivatives in the eastern state of Odisha.
