New Delhi, April 9 (KNN) Sembcorp Industries and Bharat Petroleum Corporation Ltd (BPCL) have entered into a significant partnership agreement to establish a 50:50 joint venture focused on renewable energy and green hydrogen development across India.
The agreement, signed on Tuesday between Sembcorp Green Hydrogen India Private Limited and BPCL, represents a strategic alignment of resources to support India’s energy transition goals.
The newly formed joint venture will concentrate on the production, operation, and commercialisation of renewable energy and green hydrogen, along with its derivatives.
According to the official statement, the partnership will extend to exploring green ammonia production and bunkering, emissions reduction initiatives for port operations, and other emerging green fuel technologies.
This collaboration is designed to capitalise on Sembcorp’s extensive renewables experience while leveraging BPCL’s established expertise in the petroleum sector and infrastructure development.
Vipul Tuli, President & CEO of Renewables, West, and CEO, Hydrogen Business at Sembcorp, emphasised that the partnership aims to advance renewable energy and green hydrogen development in India.
He noted that the combination of Sembcorp’s renewables expertise and BPCL’s strength in the petroleum sector creates opportunities to help decarbonise hard-to-abate sectors, reinforcing Sembcorp’s commitment to delivering scalable, low-carbon solutions for a sustainable future.
With 6 gigawatts of renewable assets already established in India, Sembcorp is strategically positioned to facilitate large-scale, cost-effective green hydrogen production.
The company has identified green hydrogen and ammonia as key pathways in its decarbonisation strategy.
Despite the strategic importance of this joint venture, Sembcorp stated that the agreement is not expected to materially impact its earnings per share or net tangible assets per share for the financial year ending December 31, 2025.
G Krishnakumar, Chairman and Managing Director of BPCL, described the partnership as a significant milestone in the company’s sustainability journey.
He stated that BPCL intends to leverage the combined aspirations, expertise, and resources of both companies to explore innovative renewable energy and green hydrogen solutions that support India’s climate goals and BPCL’s own aspiration to achieve net zero emissions by 2040.
Krishnakumar further revealed that BPCL is committed to building a substantial renewable energy portfolio with a target of 10 gigawatts as part of its strategy to become a net zero energy company by 2040.
(KNN Bureau)
