GPS Renewables (GPSR), a leading biogas engineering firm, has partnered with Oil India Limited (OIL) to establish eight compressed biogas (CBG) plants in India. The two companies will hold equal stakes in a 50:50 joint venture, which will oversee the design, construction, financing, ownership, operation, and eventual transfer of these facilities under a DBFOOT model.
Commenting on the initiative, Mainak Chakraborty, CEO and Co-Founder of GPS Renewables, said, “India’s leading oil companies are increasingly showing interest in biofuels like CBG to bolster energy security and achieve net-zero goals. This partnership with Oil India aligns with our vision of creating a nationwide network of CBG plants that will cut reliance on fossil fuels and lower greenhouse gas emissions. We are excited to expand our efforts to meet the rising demand for sustainable energy in the country.”
GPS Renewables has recently secured ₹100 crore ($12 million) in mezzanine funding from InCred Opportunities Fund and Spark Capital. This investment forms part of a broader $100 million funding round, which includes $25 million at the ARYA level and an additional $50 million for subsidiary-level projects. These funds will drive the development of CBG plants under GPSR’s partnerships with Indian Oil Corporation (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) within its ARYA vertical.
This collaboration marks a significant step towards advancing biofuel adoption and sustainable energy solutions in India.Oil India Limited (OIL) is a premier public sector enterprise and the second-largest hydrocarbon exploration and production company in India. Established in 1959, OIL has played a pivotal role in India’s energy sector, contributing to the country’s oil and natural gas production while focusing on energy security.
Beyond hydrocarbons, OIL is actively diversifying its portfolio to include renewable energy projects, such as solar, wind, and biofuels, reflecting its commitment to a sustainable future. With a strong operational presence across India and international markets, Oil India combines advanced technology with decades of expertise to drive innovation in energy solutions. The company remains dedicated to supporting India’s transition to clean energy while maintaining its leadership in traditional energy sectors.
GPS Renewables is a leading global biogas engineering company specializing in the development of cutting-edge solutions for sustainable energy production. Founded with a mission to combat climate change, GPS Renewables focuses on creating innovative technologies that convert organic waste into renewable energy, such as compressed biogas (CBG).
The company has earned its position as a pioneer in the biogas sector by developing high-performance, scalable infrastructure that contributes to reducing greenhouse gas emissions and minimizing waste. GPSR’s efforts align with India’s energy transition goals, fostering energy independence and sustainability. With a growing portfolio of projects and strong collaborations with industry leaders, GPS Renewables continues to expand its impact on the renewable energy landscape.
