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Hydrogen tank, solar panel and windmills on blue sky background. Getty Images Image used for illustrative purpose
State-owned Indian Oil Corporation Limited (IOC) will establish green hydrogen plants at all its refineries as part of its $24 billion green transition plan, Press Trust of India reported, citing Chairman Shrikant Vaidya.
“Oil will continue to be a mainstay fuel for the next few years, but we are preparing for transition, which will involve a combination of green hydrogen, biofuels, EVs and alternate fuels,” he added.
The company will set up a 7,000 tonnes per annum green hydrogen producing facility at its Panipat oil refinery at an investment of INR 2 lakh crore ($242 million) by 2025.
“We are starting with Panipat, but eventually, all refineries will have green hydrogen units,” Vaidya said.
The investments cover setting up green hydrogen facilities at refineries, improving efficiency, renewable energy capacity addition and alternate fuels, the report said.
IOC has set a target of achieving net-zero emissions from operations by 2046.
(Writing by P Deol; Editing by Anoop Menon)
