Sojitz Corporation has made an investment in the holding structure of IOC GPS Renewables Private Limited (IGRPL), a special purpose company jointly established by GPS Renewables Private Limited and Indian Oil Corporation Limited.
IndusLaw advised Sojitz Corporation on this investment deal.
The transaction team consisted of Saurav Kumar (Partner), Swathi Sreenath (Partner), Shreya Chaturvedi (Principal Associate), Suyash Bajpai (Associate) and Kaustubh Garg (Associate), with support from the following:
Projects Advisory Team: Shashwat Kumar (Partner) and Harshit Gupta (Associate).
Tax Advisory Team: Lokesh Shah (Partner) and Gaurav Goyal (Principal Associate).
Cyril Amarchand Mangaldas advised GPS Renewables on this transaction.
The transaction team was led by Alok Sonkar (Partner).
IOC GPS Renewables Pvt Ltd (IGRPL), is a joint venture between Indian Oil Corporation Ltd (IOCL) and GPS Renewables, marking Sojitz Corporation entry into India’s biomethane sector. The investment will support the development of 30 biomethane plants across India by FY 2026–27, with a combined capacity to produce around 160,000 tonnes of biomethane annually using agricultural waste. Valued at over USD 400 million, the transaction aligns with Sojitz’s green transformation strategy and India’s push for energy self-sufficiency through biofuels.
Sojitz Corporation is a general trading company based in Tokyo, Japan. It is engaged in a wide range of businesses globally, including buying, selling, importing, and exporting goods, manufacturing and selling products, providing services, and planning and coordinating projects, in Japan and overseas.
IGRPL is engaged in the design, construction, operation, and maintenance of biomethane plants across India. Through this investment, Sojitz marks its entry into the biomethane production and sales business in India. Sojitz, alongside GPSR and IOCL, will leverage its combined expertise and networks to scale biomethane operations across India and explore further bioenergy opportunities domestically and internationally.
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