GPS Renewables, Oil India to Jointly Establish 8 Compressed Biogas Units.

GPS Renewables (GPSR), a leading global biogas engineering firm, has partnered with Oil India Ltd (OIL) to establish eight compressed biogas (CBG) plants in India through a joint venture.

In this partnership, both companies will hold equal stakes (50:50) in the joint venture, which will manage the CBG projects under the DBFOOT model—Design, Build, Finance, Own, Operate, and Transfer. The joint venture will oversee the full lifecycle of the plants, ensuring seamless design, construction, and operation.

Highlighting the importance of this initiative, Mainak Chakraborty, CEO and Co-Founder of GPS Renewables, said, “The growing interest from oil companies in biofuels like CBG reflects a commitment to energy security and India's net-zero goals. Our collaboration with Oil India aims to establish a nationwide network of CBG plants, reducing reliance on fossil fuels and curbing greenhouse gas emissions. This partnership aligns with our vision to scale biofuel adoption across the country.”

GPS Renewables recently secured ₹100 crore ($12 million) in mezzanine financing from InCred Opportunities Fund and Spark Capital as part of a larger $100 million funding round. This funding will support its ongoing CBG initiatives, including joint ventures with Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) under its ARYA vertical.

The planned CBG plants are expected to contribute significantly to India’s sustainable energy goals while meeting the increasing demand for renewable energy solutions.

HBL