Indian Oil Corporation Ltd. has finalised the levelized cost of hydrogen for setting up a 10,000 tonnes per annum green hydrogen generation unit at its Panipat refinery and petrochemical complex in Haryana, advancing India's clean energy ambitions.
'This marks Indian Oil's entry into the green hydrogen space with India's largest-ever green hydrogen project to date,' the firm said in a statement.
India Oil, however, did not give costing and other financial details.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
'Slated for commissioning by December 2027, the green hydrogen produced will replace fossil-derived hydrogen in refinery operations, resulting in substantial reduction in carbon emissions,' it said.
Hydrogen is a fuel that finds vast applications across industries ranging from oil refineries to steel plants and can power cars, trucks, trains, ships, and even industrial processes.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
It can be produced from a variety of sources. Green hydrogen is hydrogen gas produced by splitting water using renewable energy sources such as solar, wind, or hydropower. On burning, it produces only water.
India Oil said the Panipat project is fully aligned with the government's vision for National Green Hydrogen Mission and stands as a strategic initiative under the company's decarbonization roadmap.
It also marks a major milestone in the company's journey towards achieving its net zero carbon emission target, reinforcing IOC's leadership in India's sustainable energy future, the statement added.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
