Archive · 19 Dec 2025
Energy Firms Form Joint Ventures
Two big energy companies, BPCL and Coal India, have teamed up to build a project in Maharashtra that turns coal into a cleaner gas called SNG.
Coal India owns 51% of the project, and BPCL owns 49%.
Meanwhile, another company called IGL has also formed a partnership with HWT to make plants that produce clean fuel from waste.
Both companies are trying to make energy in India cleaner and more sustainable.
IGL also reported its financial results for the last quarter, showing a small increase in profit but a decrease in overall performance due to higher costs.
The company's shares went down slightly on the stock market.
BPCL and Coal India approved a joint venture for a coal gasification project in Maharashtra, with Coal India holding 51% and BPCL 49%.
The project aims to produce synthetic natural gas (SNG) to enhance India's energy security and reduce dependence on imported gas.
IGL and HWT formed a joint venture with equal stakes (50% each) to set up compressed biogas (CBG) plants and biofuel projects.
IGL's Q2 net profit increased by 4.5% to ₹372 crore, but EBITDA declined by 13.6% due to higher input costs.
IGL's share price decreased by 1.03% to ₹194.01 on December 19, 2023.
- Who
- BPCL, Coal India, Indraprastha Gas Ltd (IGL), Hindustan Waste Treatment Private Ltd (HWT)
- What
- Formation of joint ventures for energy projects and IGL's Q2 financial results
- When
- December 18-19, 2023
- Where
- Western Coalfields, Maharashtra (JV 1); India (JV 2 and IGL)
- Why
- To expand into renewable energy and clean fuel sectors, and to diversify energy portfolios
- Companies Involved in JV 1
- BPCL and Coal India
- Project Location 1
- Western Coalfields, Maharashtra
- Stake Distribution 1
- Coal India: 51%, BPCL: 49%
- Project Output 1
- Synthetic Natural Gas (SNG)
- Project Goals 1
- Energy security, reduce import dependence, promote cleaner coal technologies
- Board Approval Date 1
- December 18, 2023
- Companies Involved in JV 2
- Indraprastha Gas Ltd (IGL) and Hindustan Waste Treatment Private Ltd (HWT)
- Stake Distribution 2
- IGL: 50%, HWT: 50%
- Project Focus 2
- Compressed biogas (CBG) plants and biofuel projects
- IGL Q2 Net Profit
- ₹372 crore (up 4.5% QoQ)
- IGL Q2 Revenue
- ₹4,022 crore (up 2.8% QoQ)
- IGL Q2 EBITDA
- ₹442 crore (down 13.6% QoQ)
- IGL Q2 EBITDA Margin
- 11% (down from 13.1% QoQ)
- IGL Share Price
- ₹194.01 (down 1.03%)