IndianOil to pool its green assets under a single umbrella to power India’s energy transition

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New Delhi:  IndianOil, the country’s largest refiner and fuel retailer, has announced a slew of sustainability initiatives aimed at catalysing India’s green energy transition.

The company also stated its intention to consolidate all of its existing green assets under one umbrella and rapidly expand its footprint across sustainable energy avenues such as biofuels, renewables, green hydrogen, and CCUS (Carbon Offsets and Carbon Capture, Utilization and Storage) at the Green Energy Summit on March 15.

“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,” said Mr S M Vaidya, Chairman of IndianOil. As a result, we are increasing our green efforts with a clear focus, and in the future, we will consolidate our green assets under one umbrella for greater synergy.”

IndianOil Chairman SM Vaidya

Our ambitious green roadmap also includes the formation of effective collaborations in order to foster commercial-scale green businesses. We will invite investors and technology providers from around the world to join us on our journey he added.

Mr Viadya elaborated on the plan, saying that IndianOil intends 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 currently has a renewable energy portfolio of 239 MW, which is being expanded through new wind, solar, hydel, and pumped hydro projects. It is also working with NTPC to increase its Renewable Energy capacity by approximately 2.8 GW. The supply chain is also being greened by solarizing 20,705 retail outlets with a total installed capacity of 121 MW.

EV initiatives are being stepped up by the installation of 4700 charging stations and 66 battery swapping stations. IOC Phinergy Private Limited has formed a partnership with Phinergy, an Israeli start-up company specialising in hybrid lithium-ion and aluminum-air battery systems. Other battery chemistries are also being evaluated.

IndianOil has also firmly established itself in the country’s nascent Green Hydrogen ecosystem. For the Green Hydrogen Business, the Company has a firm collaboration with ReNew Power Private Limited (ReNew) and Larson & Toubro Limited (L&T).

The Panipat refinery is building a 7 KTPA Green Hydrogen capacity. Using hydrogen from the refinery unit, a demonstration facility for hydrogen dispensing has been installed at Gujarat Refinery. The IndianOil R&D Centre is also completely focused on developing low-carbon technologies and products.

IndianOil has already made significant investments in biofuels. Various Biofuels projects and initiatives are being implemented in Ethanol, Bio-Diesel, Compressed Bio Gas (CBG), Organic Manure, Sustainable Aviation Fuel (SAF), and Waste to Energy.

Panipat is home to IndianOil’s paddy straw-based 2G Ethanol plant and refinery off-gas-based 3G Ethanol plants. Under the SATAT initiative, IndianOil has commissioned 20 CBG plants. CBG is also sold by IndianOil through 41 retail outlets in India under the brand IndiGreen.

IndianOil has also established a 100 TPD Cattle Dung to CBG Plant in Jaipur, Rajasthan, as well as a 200 TPD mixed waste (paddy straw, press mud, cattle dung) to CBG Plant in Gorakhpur, Uttar Pradesh. IndiGreen, XP95, XP 100, Xtragreen, Xtra Tej, SERVO Raftaar, and other innovative solutions are being added to IndianOil’s portfolio of greener products.

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