Sojitz Enters India’s Biomethane Market with $400M Investment in Partnership with Indian Oil and GPS Renewables
Sojitz Corporation has made a strategic investment in India’s clean energy future by entering the biomethane production and sales business through a joint venture with Indian Oil Corporation (IOCL) and GPS Renewables. The new entity, IOC GPS Renewables Pvt. Ltd. (IGRPL), aims to develop and operate 30 biomethane plants across India by FY2026–FY2027, targeting an annual output of 160,000 tons of biomethane from agricultural waste.
The venture represents over $400 million in total project value and aligns with India’s national push for energy security, reduced emissions, and rural income growth. Biomethane, a renewable gas purified from biogas, can replace fossil fuels and plays a key role in achieving net-zero targets.
India, the world’s third-largest energy consumer, is expected to match U.S. primary energy consumption by 2040. With 70% of its current energy reliant on fossil fuels, the country is aggressively promoting domestically-produced biofuels.
Sojitz will leverage GPS Renewables’ technical capabilities and IOCL’s market reach to scale up this green initiative. This move is in line with Sojitz’s Medium-term Management Plan 2026, which identifies India as a key growth market and green transformation (GX) as a core business pillar.