Latest news with #Biogas
Fibre2Fashion
24-04-2025
- Business
- Fibre2Fashion
BPCL & GPS Renewables sign JV to set up CBG plants across India
Following its earlier announcement on September 13, 2024, Bharat Petroleum Corporation Limited (BPCL) and GPS Renewables Private Limited have officially entered into a Joint Venture (JV) agreement to establish Compressed Biogas (CBG) plants across India. This strategic alliance is a significant step towards advancing India's energy transition and contributing to BPCL's Net Zero goals. BPCL and GPS Renewables have formed a JV to set up Compressed Biogas (CBG) plants across India, supporting BPCL's Net Zero goals and national climate initiatives. The venture will convert biomass into CBG, tackling stubble burning, reducing emissions, and aiding rural development. Initial plans include 8â€'10 plants in high biomass states like Bihar and Punjab. The JV agreement was formally signed by Shri Sameet Pai, Head (Corporate Strategy), BPCL and Shri Mainak Chakraborty, CEO & Co-Founder, GPS Renewables Private Limited in the presence of Shri Sanjay Khanna, Director (Refineries) BPCL and Shri Raj Kumar Dubey, Director (HR) BPCL. This collaboration signifies a commitment by both organizations to harness sustainable energy solutions in alignment with national and global climate objectives. The joint venture will focus on converting organic Biomass waste into Compressed Biogas, a renewable and eco-friendly energy source. By leveraging advanced waste-to-energy technologies, this initiative aims to address critical environmental challenges, including - 1. Agricultural residue management: Providing a viable solution to stubble burning, which contributes to air pollution and soil degradation. 2. Greenhouse gas reduction: Mitigating climate change by reducing emissions. 3. Sustainable rural development: Creating a structured value chain for agri-residue procurement, generating an additional income source for farmers. The Joint Venture plans to establish 8 – 10 plants across Bihar, Odisha, Punjab, Uttar Pradesh and West Bengal, over the next few years, which offer significant agri biomass potential for CBG production and aligned with BPCL's existing geographical allocation for city gas distribution. This reduces logistics costs and promotes efficient operations. Moreover, this initiative will enhance India's energy security by reducing dependence on imported fossil fuels, aligning with key Government's objectives, including GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) initiative, which promotes organic bio-agro resources, the Sustainable Alternative Towards Affordable Transportation (SATAT) scheme, which fosters sustainable transportation alternatives, and CBG Blending Obligation (CBO), which encourages clean fuel adoption. This partnership exemplifies the growing collaboration between public and private sector leaders in fostering innovative and developing sustainable energy solutions to support India's low-carbon future. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. Fibre2Fashion News Desk (HU)
News18
24-04-2025
- Business
- News18
Stocks To Watch: LTIMindtree, HUL, Axis Bank, Nestle, Gensol, Bajaj Housing Finance, And Others
Last Updated: Stocks to watch: Shares of firms like LTIMindtree, HUL, Axis Bank, Nestle, Gensol, Bajaj Housing Finance, and others will be in focus on Thursday's trade Stocks To Watch On April 24: Domestic equity markets remained volatile on April 23 but closed higher, continuing their upward trend. On April 24, several stocks are expected to be in focus due to earnings announcements and key developments: HUL, Axis Bank, Tech Mahindra, Nestle, SBI Life These companies are set to report their Q4 results today, drawing investor attention. LTIMindtree The IT firm posted weaker-than-expected Q4 earnings, with revenue rising 1.1% QoQ to Rs 9,771.7 crore—below Bloomberg's estimate of Rs 9,868 crore. Profit also fell short amid cautious client spending due to geopolitical and macroeconomic pressures. Tata Consumer Products Q4 net profit surged 59.2% YoY to Rs 344.85 crore, exceeding estimates. Revenue rose 17.4% to Rs 4,608.2 crore. EBIT stood at Rs 620.8 crore. Bajaj Housing Finance Q4 net profit rose 54% YoY to Rs 587 crore, while net interest income increased 31% to Rs 823 crore. FY25 net profit rose 25% to Rs 2,163 crore. Can Fin Homes Reported Q4 net profit of Rs 234 crore, up 11.9% YoY. The company declared a final dividend of Rs 6 per share, totaling Rs 12 for FY25. Gensol Engineering NPCIL awarded a Rs 12,800 crore EPC contract to MEIL for constructing two 700 MWe nuclear reactors in Karnataka—its largest-ever contract and MEIL's entry into nuclear energy. Vedanta Parent Vedanta Resources is considering a potential US listing for its Zambian subsidiary Konkola Copper Mines to raise $1 billion for mine development. Adani Green Energy Signed a power purchase agreement with Uttar Pradesh Power Corporation to provide 1,250 MW of storage from pumped hydro projects. BPCL Entered a JV with GPS Renewables to build Compressed Biogas (CBG) plants, utilizing waste-to-energy tech to generate eco-friendly fuel. Niva Bupa Health Insurance IRDAI has approved the reappointment of Krishnan Ramachandran as CEO & MD for another five years. Disclaimer:Disclaimer: The views and investment tips by experts in this report are their own and not those of the website or its management. Users are advised to check with certified experts before taking any investment decisions. First Published:
Business Standard
23-04-2025
- Business
- Business Standard
Bharat Petroleum Corporation enters in JV agreement with GPS Renewables
To establish Compressed Biogas (CBG) plants across India Bharat Petroleum Corporation (BPCL) and GPS Renewables have entered into a Joint Venture (JV) agreement to establish Compressed Biogas (CBG) plants across India. This strategic alliance is a significant step towards advancing India's energy transition and contributing to BPCL's Net Zero goals. The joint venture will focus on converting organic Biomass waste into Compressed Biogas, a renewable and eco-friendly energy source. By leveraging advanced waste to-energy technologies, this initiative aims to address critical environmental challenges, including - 1. Agricultural residue management: Providing a viable solution to stubble burning, which contributes to air pollution and soil degradation. 2. Greenhouse gas reduction: Mitigating climate change by reducing emissions. 3. Sustainable rural development: Creating a structured value chain for agri-residue procurement, generating an additional income source for farmers. The Joint Venture plans to establish 8 - 10 plants across Bihar, Odisha, Punjab, Uttar Pradesh and West Bengal, over the next few years, which offer significant agri biomass potential for CBG production and aligned with BPCL's existing geographical allocation for city gas distribution. This reduces logistics costs and promotes efficient operations.
Business Upturn
23-04-2025
- Business
- Business Upturn
BPCL partners with GPS Renewables to set up compressed biogas plants across India
By Aditya Bhagchandani Published on April 23, 2025, 17:06 IST Bharat Petroleum Corporation has officially entered into a joint venture with Bengaluru-based GPS Renewables to establish Compressed Biogas (CBG) plants across India. The agreement was signed on April 23, 2025, as part of BPCL's broader strategy to support India's clean energy goals and meet upcoming CBG blending obligations. 50:50 joint venture for clean energy expansion As per the agreement, BPCL and GPS Renewables will each hold a 50% stake in the newly formed private joint venture company. The initial paid-up capital of the JV stands at Rs 8 crore, equally subscribed by both entities. The authorised share capital is set at Rs 200 crore, indicating significant scale and expansion potential. The scope of this JV includes the construction, operation, and maintenance of CBG plants, as well as the sale of biogas and its derivatives across India. Governance and structure The JV will operate as a private limited company, with equal rights granted to both partners in terms of director appointments. BPCL will nominate the first chairman, while the CEO and CFO positions will rotate every three years, starting with the CEO from GPS and CFO from BPCL. This move aligns with BPCL's energy transition and net-zero initiatives, reinforcing its position in the renewable energy space. FAQs What is the purpose of BPCL's joint venture with GPS Renewables? To construct and operate Compressed Biogas plants across India and support BPCL's green energy and net-zero goals. What is the shareholding ratio in the joint venture? BPCL and GPS Renewables each hold a 50% stake. How much capital is being infused initially? Rs 8 crore as paid-up capital, with an authorised capital of Rs 200 crore. Will this joint venture impact BPCL's CBG blending targets? Yes, it is intended to help BPCL meet mandated CBG blending obligations in the coming years. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
