News Release Details

IndianOil to Consolidate Green Assets under One Umbrella for powering India's Energy Transition
New Delhi 15-Mar-2023

During the first IndianOil Green Energy Summit held today, Indian Oil Corporation Ltd. (IndianOil), the country's top refiner and fuel retailer, shared a wide array of sustainability endeavours poised to catalyse India's green energy transition. The Company also underscored its intent to consolidate all its existing green assets under one umbrella and rapidly expand its footprint across sustainable energy avenues like biofuels, renewables, green hydrogen and CCUS (Carbon offsets & Carbon Capture, Utilization and storage).

Speaking on occasion, Mr S M Vaidya, Chairman, IndianOil, remarked, "While IndianOil is committed to energising India's exponentially rising energy needs, we are also determined to be the flagbearer of India's green energy transition. We are thus scaling up our green endeavours with a definitive focus, and going forward; we will consolidate our green assets under one umbrella for better synergy. Our ambitious green roadmap also involves forging effective collaborations to nurture commercial-scale green businesses. We shall provide opportunities to investors and technology providers across the globe to partner in our journey. We aim to build a portfolio of

3 GW Renewable Energy and 0.6 MMT Biofuels by 2025;
35 GW Renewable Energy, 4 MMT Biofuels and 1 MMT Biogas by 2030 and
200 GW Renewable Energy, 7 MMT Biofuels and 9 MMT Biogas by 2050.

IndianOil's best-in-class ability on project execution will be pivotal in providing accessible, low-cost energy to every Indian throughout our country".

Expanding Renewable Energy footprint

IndianOil's renewable energy portfolio currently stands at 239 MW, which is being expanded through new wind, solar, hydel and pumped hydro projects. We are also collaborating with NTPC to augment our Renewable Energy capacity by around 2.8 GW. There is also greening of the supply chain through solarising 20,705 Retail Outlets with an installed capacity of 121 MW. Initiatives in EVs are being intensified by setting up 4700 charging stations and 66 battery swapping stations. A collaboration has been entered with Phinergy, an Israeli start-up company specialising in hybrid lithium-ion and aluminium-air battery systems, to form IOC Phinergy Private Limited. Various other battery chemistries are also being explored.

Leading India's Green Hydrogen Revolution

IndianOil has also firmly etched its presence in the nascent Green Hydrogen ecosystem of the country. The Company has a firmed-up collaboration with ReNew Power Private Limited (ReNew) and Larson & Toubro Limited (L&T) for Green Hydrogen Business. A 7 KTPA Green Hydrogen capacity is under development at the Panipat refinery. A demonstration facility for hydrogen dispensing at Gujarat Refinery has been installed using the hydrogen from the refinery unit. IndianOil R&D Centre is also fully oriented towards developing low-carbon technologies and products.

Foraying into Biofuels and expanding green offerings

IndianOil has already made deep forays into the biofuel space. Various Biofuels projects and initiatives in Ethanol, Bio-Diesel, Compressed Bio Gas (CBG), Organic Manure, Sustainable Aviation Fuel (SAF) and Waste to Energy are being implemented. IndianOil has set up its paddy straw based 2G Ethanol plant and refinery off-gas-based 3G Ethanol Plants at Panipat. IndianOil has commissioned 20 CBG Plants under the SATAT initiative. CBG is also being sold by IndianOil from 41 Retail Outlets across India under the brand name IndiGreen. IndianOil has also set up 100 tons per day of Cattle Dung to CBG Plant in Jaipur, Rajasthan and a 200 TPD mixed waste (paddy straw, press mud, cattle dung) to CBG Plant in Gorakhpur, UP. IndianOil is also expanding its bouquet of greener products with innovative solutions like IndiGreen, XP95, XP 100, Xtragreen, Xtra Tej, SERVO Raftaar, etc.

Leading India's Energy Transition

IndianOil is the leader among Indian Corporates in the Oil & Gas sector as per the Global Rankings on transition released by in Bloomberg New Energy Finance (BNEF). Globally, IndianOil has been ranked 22nd in the rankings. IndianOil has also topped Oil & Gas Corporates for low carbon investments as a share of total Capex, with IndianOil's share of low carbon investments being 1.8% of its total CAPEX as per the report. Today, IndianOil meets 9% of the Nation's energy needs and aspires to grow this share to 12% by 2030.

Dr. Uttiya Bhattacharyya
Executive Director (Corporate Communications)
Indian Oil Corporation Limited

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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.
The User's right to privacy is of paramount importance to IndianOil. Any information provided by the User will not be shared with any third party. IndianOil reserves the right to use the information to provide the User a more personalized online experience.
The Site provides links to web sites and access to content, products and services from third parties, including users, advertisers, affiliates and sponsors of the Site. You agree that IndianOil is not responsible for the availability of, and content provided on, third party web sites. The User is requested to peruse the policies posted by other web sites regarding privacy and other topics before use. IndianOil is not responsible for third party content accessible through the Site, including opinions, advice, statements and advertisements, and User shall bear all risks associated with the use of such content. IndianOil is not responsible for any loss or damage of any sort User may incur from dealing with any third party.