Bharat Petroleum Corporation Limited (NSE: BPCL, BSE: 500547) has announced the signing of a joint venture (JV) agreement with Sembcorp Green Hydrogen India Private Limited (SGHIPL) to develop renewable energy and green hydrogen projects across India.
The JV will focus on constructing and operating renewable energy projects and green hydrogen facilities, including derivatives, across the country. The initial issued, subscribed, and paid-up capital of the JV company is set at ₹25 crore, divided equally between BPCL and SGHIPL in a 50:50 shareholding pattern. Equity shares will be issued at a face value of ₹10 each following the incorporation of the JV entity.
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BPCL will nominate the first chairman of the JV company, with chairmanship rotating every two years between the partners. The CEO and CFO roles will also rotate every three years, ensuring equal representation from both entities in leadership positions.
The authorized share capital of the JV company is expected to be ₹100 crore, divided into 10 crore equity shares of ₹10 each.
The rationale behind this collaboration includes diversification into renewable energy sectors and supporting BPCL’s energy transition initiatives toward achieving net-zero emissions. The JV will play a pivotal role in advancing India’s green hydrogen ecosystem, which is critical for reducing carbon footprints in industrial processes and transportation.
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V. Kala, Company Secretary of Bharat Petroleum Corporation Limited, confirmed these developments in a regulatory filing with stock exchanges.
Stay tuned for further updates on market movements and financial insights.
Disclaimer: The information provided is for educational purposes only and does not constitute financial advice. We are not registered financial advisors. Please conduct your own research and consult a qualified advisor before making investment decisions. Any investment decisions you make based on this information are solely at your own risk.
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Published on: April 7, 2025 / S Mallige Shree
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As stated in Bhagavad Gita:
तस्मादसक्तः सततं कार्यं कर्म समाचर।
Therefore, without being attached to the fruits of activities, one should act according to the regulations of the scriptures.
