IOC and GPS Renewables form joint venture for sustainable energy
Indian Oil Corp. (IOC), the country’s largest state-owned energy company, has partnered with GPS Renewables Pvt. Ltd., a prominent biofuels firm. The two companies have formed a 50-50 joint venture aimed at advancing biofuel technology nationwide.
The joint venture agreement was signed on May 24, 2024, with notable attendees including Sujoy Choudhury, director (P&BD); N. Senthil Kumar, director (Pipelines); Alok Sharma, director (R&D); and key representatives from GPS Renewables such as Co-Founder and CEO Mainak Chakraborty and Chairman V. Subramaniam.
The new joint venture will integrate advanced biogas technologies to convert organic waste—such as paddy straw, press mud, and cattle dung—into compressed biogas (CBG). This initiative aims to reduce waste and greenhouse gas emissions while providing a renewable energy alternative to fossil fuels. The collaboration seeks to accelerate the deployment of CBG plants across India, aligning with the country’s vision for a greener future.
This joint effort supports the Indian government’s SATAT (Sustainable Alternative Towards Affordable Transportation) scheme, which envisions the establishment of 5,000 CBG plants with a production capacity of 15 MMTPA. IOC has already commissioned 32 CBG plants, with a total designed capacity of 70,158 TMTPA, and is marketing the CBG through retail outlets and industrial channels.
Notable projects and environmental impact
Recent projects include a 20 TPD CBG plant in Gorakhpur, Uttar Pradesh, primarily using paddy straw, and a 100 TPD cattle dung-based plant in Jaipur. Another 100 TPD cattle dung-based plant is under construction in Gwalior, Madhya Pradesh. GPS Renewables, known for its climate-positive biofuel projects, has scaled up to establish some of the world’s largest RNG plants, including a flagship 15 TPD CBG plant in Indore, Madhya Pradesh.
CBG offers multiple advantages, including enhancing energy security by reducing reliance on imported fossil fuels, supporting the rural economy through local employment, and managing agricultural and urban organic waste. Environmentally, it helps lower India’s carbon footprint and mitigates climate change effects. Additionally, the use of CBG reduces air pollution, thereby improving public health and quality of life.
This collaboration underscores IndianOil and GPS Renewables’ commitment to fostering sustainable energy solutions and contributing to India’s environmental goals.
