News Release Details

IndianOil inks an MoU with NTPC for collaboration on renewable energy
New Delhi 12-Nov-2021

Parivartan initiative 12th November 2021, New Delhi: IndianOil and NTPC signed a Memorandum of Understanding to collaborate and mutually explore opportunities in the field of renewable energy. The MoU was signed today at New Delhi in the presence of Mr Shrikant Madhav Vaidya, Chairman IndianOil and Mr Gurdeep Singh, Chairman & Managing Director, NTPC. Dr SSV Ramkumar, Director R&D and P&BD, IndianOil and Mr C K Mondol, Director Commercial, NTPC, were also present on the occasion. This is a first-of-its-kind initiative by two leading Public sector energy majors of India to support the country's commitment to achieve renewable energy targets and reduce greenhouse gas emissions.

Speaking on the occasion, Mr Shrikant Madhav Vaidya, Chairman, IndianOil, said, "As a global energy major, environmental priority is being weaved into every business aspect of IndianOil, and now, we intend to use green energy to power new projects and refinery expansions."

Parivartan initiative Mr Gurdeep Singh, CMD, NTPC, said, "NTPC is taking various steps to make its energy portfolio greener by adding significant capacity of renewable energy sources & plans to have 60GW capacity through renewable sources by 2032, which will constitute nearly 45% of its overall power generating capacity.

IndianOil and NTPC have come together for the generation and storage of renewable energy or other cleaner forms of energy, including gas-based power, primarily to cater for IndianOil Refineries or other installations.

IndianOil has plans to scale up its portfolio of renewable energy with solar, wind, etc., for refinery operations, thereby reaffirming its commitment towards environmental sustainability and reduction of carbon footprints. IndianOil plans to meet 85% of the power requirement for new projects in its refineries primarily from renewable sources in the near future. IndianOil is also well poised to leverage India's sustainable commitments through multiple green initiatives, including increased use of natural gas in all refineries, ethanol-blended Motor Spirit, sale of Compressed Biogas (CBG) and production of biodiesel using cooking oil as feedstock. IndianOil's R&D team has undertaken various pilot projects in the field of solar power, solar thermal and solar hydrogen and has been leading India's foray under the Government of India's National Green Hydrogen Mission.

K. John Prasad
Chief General Manager
Corporate Communications
Indian Oil Corporation Ltd.

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The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
IndianOil may terminate User's access at any time for any reason. The provisions regarding to disclaimer of warranty, accuracy of information, and indemnification shall survive such termination. IndianOil may monitor access to the Site.
All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
IndianOil does not make any warranties, express or implied, including, without limitation, those of merchantability and fitness for a particular purpose, with respect to any information, data, statements or products made available on the Site.
The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
The information contained in the Site has been obtained from sources believed to be reliable. IndianOil disclaims all warranties as to the accuracy, completeness or adequacy of such information.
IndianOil makes no warranty that: (a) the Site will meet your requirements; (b) the Site will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Site or any services offered through the Site will be accurate or reliable.
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