IndianOil, a key player in India's energy sector, has taken a significant stride towards promoting sustainable energy solutions by partnering with GPS Renewables Private Limited, a prominent biofuels company in the nation. This collaboration marks the establishment of a 50:50 joint venture focused on accelerating the adoption of biofuels nationwide.

The agreement was signed by Mr. Mainak Chakraborty, CEO & Co-Founder of GPS Renewables Pvt Ltd., and Mr. Santanu Gupta, Executive Director (Alternative Energy) at IndianOil, in the presence of IndianOil executives including Mr. Sujoy Choudhury, Director (P&BD), Mr. Senthil Kumar N., Director (Pipelines) with additional charge of Director (Refineries), and Mr. Alok Sharma, Director (R&D). Also in attendance were Mr. V Subramaniam, Chairman of GPS Renewables, along with other senior officials from both organizations.

The joint venture will focus on deploying advanced biogas technologies that transform organic waste into Compressed Biogas (CBG), a cleaner and renewable energy source. This initiative aims to significantly cut greenhouse gas emissions while providing a sustainable alternative to conventional fossil fuels. By pooling their expertise, IndianOil and GPS Renewables seek to expedite the establishment of CBG plants across India. These efforts align with IndianOil’s long-term strategy for low-carbon development and its goal of achieving operational net zero emissions by 2046, contributing to India's national target of net-zero emissions by 2070. CBG offers multiple advantages for the country, enhancing energy security by reducing reliance on imported fossil fuels and bolstering rural economies through local job creation initiatives.

IndianOil is a diversified energy giant integrated across the hydrocarbon value chain, spanning refining, pipeline transportation, marketing, exploration, and production of crude oil and gas, petrochemicals, and alternative energy sources. The company is actively pursuing green energy initiatives to drive India’s transition towards sustainability, focusing on emission reduction, energy efficiency, fuel substitution, and renewable energy projects.

IndianOil, with one of the widest customer networks in India, distributes essential petroleum fuels across the nation, overcoming challenges posed by rugged terrain, diverse climates, and accessibility issues. This extensive reach is supported by a robust marketing network that includes over 60,000 customer touchpoints. IndianOil's infrastructure is further strengthened by a refining capacity of 70.05 MMTPA and a network of more than 17,000 kilometers of cross-country pipelines.

GPS Renewables is a comprehensive biofuels company that provides technology and project solutions for environmentally beneficial biofuel projects. Beginning with small-scale biogas facilities, GPS Renewables has expanded its operations to establish some of the largest CBG plants globally, such as the notable 15 TPD CBG Plant in Indore, Madhya Pradesh.