After their September 2024 announcement, BPCL and Sembcorp Green Hydrogen India have now signed a JV agreement. This demonstrates the ongoing commitment to expanding renewable energy and green hydrogen initiatives across India. The strategic partnership aims to support India’s energy transition and climate goals by developing scalable, innovation-led clean energy solutions.
Expanding into Green Ammonia and Emissions Reduction
Beyond green hydrogen, the JV will explore opportunities in green ammonia production, bunkering solutions, and reducing emissions in port operations. The initiative will explore emerging green fuel technologies. It aims to offer low-carbon alternatives for sectors that have traditionally been difficult to decarbonize.
By combining BPCL’s infrastructure and petroleum sector expertise with Sembcorp’s experience in renewables, the joint venture plans to develop and implement projects that align with India’s broader decarbonisation objectives.
Leaders Emphasise Long-Term Sustainability Goals
G. Krishnakumar, Chairman and MD of BPCL, said, “Our partnership with Sembcorp is a big step toward a sustainable future. Together, we’ll explore top renewable and green hydrogen solutions to support India’s climate goals and our net-zero target for Scope 1 and 2 by 2040. A 10GW renewable energy portfolio is being targeted by BPCL as part of its commitment to becoming a Net Zero Energy Company.”
Sembcorp Brings Scale and Renewables Expertise
Vipul Tuli, President and CEO at Sembcorp, said, “Our partnership with BPCL will advance green hydrogen and renewables across India. Together, we’re better equipped to decarbonize tough sectors and deliver scalable, low-cost solutions for a greener future.”
Positioned for Green Hydrogen Leadership
Sembcorp, with 6GW of renewable assets already operating in India, is advancing green hydrogen and ammonia as critical decarbonisation tools. The company intends to leverage its existing capacity to support low-cost, large-scale green hydrogen production.
No Material Impact on Sembcorp’s Financials
According to the press release, Sembcorp does not expect the JV agreement to have a material impact on its earnings per share or net tangible assets per share for the financial year ending December 31, 2025.
