IOC, GPS Renewables Form Sustainable Energy JV

24 Jun 2024 CW Team

Indian Oil Corporation (IOC) and GPS Renewables have announced the formation of a joint venture to develop and implement sustainable energy solutions across India. This collaboration aims to leverage the strengths of both organisations to address the country's growing energy demands with environmentally friendly alternatives.

The joint venture will focus on the production and distribution of compressed biogas (CBG) and other renewable energy solutions. By tapping into organic waste and converting it into CBG, the partnership aims to provide a cleaner, more sustainable energy source that can reduce reliance on fossil fuels and lower greenhouse gas emissions.

IOC, a leader in the energy sector, brings extensive experience in infrastructure and distribution networks to the table, while GPS Renewables, a pioneer in bioenergy technology, contributes its expertise in innovative waste-to-energy solutions. Together, they plan to establish a robust ecosystem for CBG production, including setting up biogas plants and creating efficient supply chains.

This initiative aligns with the Indian government's Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, which promotes the use of CBG as a green fuel alternative. The collaboration also supports India's broader renewable energy goals and commitment to reducing carbon emissions.

The partnership between IOC and GPS Renewables is expected to create numerous economic and environmental benefits, including job creation, waste management improvements, and enhanced energy security. By combining their resources and expertise, the two companies are well-positioned to make significant strides in the renewable energy sector, fostering a cleaner and more sustainable future for India.

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