Bid & Tender


IOC Inks Pact for Biofuel JV with GPS Renewables

Public sector giant Indian Oil Corporation announced that it has signed an agreement with GPS Renewables Private Limited to form a 50:50 joint venture company dedicated to advancing biofuel adoption across the country.


According to an Indian Oil statement, the joint venture will focus on integrating advanced biogas technologies to convert organic waste into compressed biogas (CBG), a cleaner and renewable energy source.


This will significantly reduce greenhouse gas emissions while providing a sustainable alternative to traditional fossil fuels.


The agreement was signed by Mainak Chakraborty, CEO & Co-Founder, GPS Renewables; and Santanu Gupta, ED (Alternative Energy), Indian Oil, in the presence of senior company officials.


Indian Oil and GPS Renewables aim to accelerate the deployment of CBG plants nationwide by leveraging their combined expertise.


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