Indian Oil and EverEnviro form JV for CBG production

Indian Oil Corporation (IOCL) has partnered with EverEnviro Resource Management to establish a joint venture (JV) focused on converting organic waste into compressed biogas (CBG). 

The two companies will share equal ownership in the JV, which will integrate advanced biogas technologies to promote biofuels and support the national deployment of CBG plants. This initiative aligns with IOCL’s long-term low-carbon strategy and its goal of achieving operational net-zero emissions by 2046.

In addition to the CBG venture, IOCL has been expanding its renewable energy portfolio. In October 2023, the IOCL Board approved a Rs 16.6 billion investment for a 50% stake in a joint venture with NTPC Green Energy Limited to develop renewable power plants. IOCL also issued a request for project management consultancy services for renewable energy projects in September 2023.