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BPCL, Sembcorp ink JV to develop green hydrogen, renewables in India
VCCircle
·
4m ago
Medial
Bharat Petroleum Corp (BPCL) and Singapore's Sembcorp have formed a joint venture to develop green hydrogen and renewable energy projects in India. The initiative aims to support India's goal of generating 500 GW of clean energy by 2030, as the country transitions from fossil fuels. BPCL, aligning with Sembcorp's expertise, will focus on green hydrogen, ammonia production, emissions reduction, and other green technologies, enhancing India's renewable energy landscape.
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Related News
BPCL board approves joint ventures with Sembcorp Green Hydrogen India & GPS Renewables to meet net-zero goals | Mint
Livemint
·
11m ago
Medial
Bharat Petroleum Corporation Limited (BPCL) has announced its plans to expand into the renewable energy sector through two new joint ventures. The company's Board of Directors has approved partnerships with Sembcorp Green Hydrogen India Pvt. Ltd. and GPS Renewables Pvt. Ltd. The joint ventures aim to develop, build, and operate renewable energy, green hydrogen, and compressed biogas projects across India. BPCL will hold a 50% shareholding in both ventures, and the agreements are subject to regulatory approvals. The move aligns with BPCL's aim to transition to cleaner energy and achieve its net-zero targets.
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Sembcorp signs deal for green ammonia offtake from India
Livemint
·
1y ago
Medial
Sembcorp Green Hydrogen, a subsidiary of Sembcorp Industries, has partnered with Japanese firms Sojitz Corp. and Kyushu Electric Power to finalize a green ammonia offtake agreement in India. The collaboration aims to develop a low-carbon supply chain and accelerate the region's transition to a clean economy. Sembcorp will utilize renewable energy to produce 200,000 metric tons per year of green ammonia as the lead developer and operator of the project. Land has already been secured in India for the development of the facilities.
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CIAL ties up with BPCL to set up green hydrogen plant at airport
Thehindubusinessline
·
1y ago
Medial
Cochin International Airport Ltd (CIAL) has partnered with BPCL to establish the world's first green hydrogen plant and fuelling station within an airport setting. The plant will use renewable energy sources to produce green hydrogen, which aligns with zero-carbon energy strategies. CIAL will provide the land, water, and green energy resources, while BPCL will oversee the establishment and operation of the plant. The initial output will be used to power vehicles within the airport. This collaboration emphasizes CIAL's commitment to green energy and moves towards a zero-carbon future in aviation.
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Matrix Gas & Renewables aims to raise up to $143 mn in IPO
VCCircle
·
10m ago
Medial
- Matrix Gas & Renewables, a unit of Gensol Group, aims to raise $119-$143 million through an IPO. - The company plans to file for its IPO next year, taking advantage of the booming Indian IPO market. - Matrix Gas & Renewables aims to develop 1,000 megawatts of green hydrogen projects in the next three years. - The company plans to raise capital expenditure of 35 billion rupees through a mix of 70% debt and 30% equity. - Over 250 Indian companies have already raised more than $9 billion through IPOs in 2023, surpassing last year's total.
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Blue Lotus, NAV Capital invest in renewable energy firm Matrix Gas
VCCircle
·
1y ago
Medial
Investment firms Blue Lotus and NAV Capital have invested in Matrix Gas & Renewables Ltd, a green hydrogen infrastructure developer and natural gas aggregator. Matrix, a Gensol Group company, has raised INR 350 crore ($42.2 million) in its pre-IPO round. The funds will be used to expand market share for gas aggregation, acquire city gas distribution assets, and fund ongoing capital expenditure plans. The investment will also help set up green hydrogen production plants and a hydrogen electrolyser manufacturing plant in consortium with Gensol Engineering.
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India's ONGC to invest $24.2 bln to meet net-zero emissions goal
Reuters
·
1y ago
Medial
India's leading oil explorer, Oil and Natural Gas Corp (ONGC), intends to invest $24.17 billion in clean energy projects to achieve its net-zero carbon emissions goal by 2038. ONGC aims to invest $12.08 billion by 2030 to acquire 10 gigawatts of renewable energy capacity. It is constructing a 5 gigawatts solar energy project in Rajasthan and plans to establish offshore wind energy plants. The company is also exploring collaborations in the low-carbon energy sector, including renewables, green hydrogen, green ammonia, and derivatives of green hydrogen. ONGC is searching for a partner for a 1 million tonnes per year green ammonia project.
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Hydrogen Electrolyzer Development in India: Sterling Generators Partners with Tecnicas Reunidas
Thehindubusinessline
·
1y ago
Medial
Sterling Generators, a subsidiary of Sterling & Wilson, has partnered with Spanish firm Tecnicas Reunidas to develop a 1 MW hydrogen electrolyser in India. The electrolyser, which is a key component in the production of green hydrogen, is expected to be commissioned in late 2024 and can be scaled up to 10 MW. The partnership aims to support India's renewable energy targets and leverage the country's solar and wind resources for green hydrogen production. Electrolysis, the process of splitting water into hydrogen and oxygen using electricity, offers a promising avenue for carbon-free hydrogen production from renewable sources.
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Neev Fund-backed GPS Renewables’ JV with Indian Oil raises fresh capital from Japan's Sojitz
VCCircle
·
3m ago
Medial
Japan's Sojitz Corporation has invested in a joint venture with GPS Renewables and Indian Oil Corporation to develop biomethane plants in India. The joint venture, IOC GPS Renewables Pvt. Ltd (IGRPL), aims to establish 30 biomethane plants by FY27, with a production capacity of 160,000 tons annually, using agricultural waste as feedstock. Sojitz's move marks its entry into India's biomethane sector, supporting renewable energy initiatives and addressing environmental challenges like air pollution.
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Indian Oil draws up green hydrogen fuel retail network plan
Livemint
·
1m ago
Medial
Indian Oil Corp. (IOC) plans to establish a nationwide green hydrogen fuel retail network as part of a $30 billion investment to achieve net zero emissions by 2046. The initiative will replace grey hydrogen with green hydrogen for internal use in refineries and cater to growing mobility demand for green hydrogen fuel cells in India. The strategy underscores Indian Oil's commitment to sustainable energy solutions and expanding its role in the green hydrogen market.
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NGEL ties up with Andhra agency for development of green energy projects | Company Business News
Livemint
·
9m ago
Medial
NTPC Green Energy Ltd (NGEL) has entered into a joint venture agreement with New & Renewable Energy Development Corporation of Andhra Pradesh Ltd (NREDCAP) for the development of green energy projects. The joint venture aims to develop 25 GW of renewable energy projects, along with green hydrogen and pumped storage projects (PSP), which will bring significant investment and job opportunities to the state. The agreement comes just before the foundation laying ceremony for NGEL's green hydrogen hub in Andhra Pradesh. NGEL is also in talks with potential buyers, including Toyo Engineering Corp., Getek AS, and Fortescue, to supply green hydrogen from the hub.
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