{"id":10601,"date":"2024-05-02T12:51:24","date_gmt":"2024-05-02T12:51:24","guid":{"rendered":"https:\/\/roydadnaft.ir\/English\/?p=10601"},"modified":"2024-05-02T12:51:24","modified_gmt":"2024-05-02T12:51:24","slug":"indian-oil-corporations-investment-in-renewable-energy-rs-5215-crore-for-1-gw-capacity","status":"publish","type":"post","link":"https:\/\/roydadnaft.ir\/English\/10601\/","title":{"rendered":"Indian Oil Corporation\u2019s Investment in Renewable Energy: Rs 5,215 Crore for 1 GW Capacity"},"content":{"rendered":"

RoydadNaft – <\/a><\/span>\u00a0Indian Oil Corporation (IOC) has announced a significant investment of Rs 5,215 crore to develop 1 gigawatt (GW) of renewable energy capacity in India. This strategic move aligns with IOC\u2019s broader diversification strategy beyond traditional oil and gas ventures.<\/p>\n

Investment Plan<\/h2>\n
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  • The investment plan, approved by the board, focuses on establishing standalone ground-mounted solar, onshore wind, or wind-solar hybrid projects.<\/li>\n
  • IOC will inject Rs 1,304 crore in equity for this initiative.<\/li>\n
  • The projects will be implemented through a proposed wholly-owned subsidiary dedicated to low-carbon, clean energy ventures.<\/li>\n<\/ul>\n

    Expansion Beyond Oil and Gas<\/h2>\n
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    • Indian Oil Corp is actively expanding its footprint beyond oil and gas, venturing into solar, wind, hydrogen, and electric vehicle (EV) charging infrastructure.<\/li>\n
    • Plans are underway to provide EV charging facilities at 10,000 fuel stations, alongside the rollout of EV battery-swapping facilities in key regions.<\/li>\n<\/ul>\n

      Strategic Partnerships<\/h2>\n
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      • Recently, IOC signed a preliminary pact with Panasonic to establish a joint venture for manufacturing lithium-ion cells, catering to the two- and three-wheeler market.<\/li>\n
      • Additionally, a joint venture with Isr IOC arm is in progress to bolster the renewable energy capacity, underscoring IOC\u2019s commitment to sustainable energy solutions.<\/li>\n<\/ul>\n

        Path to Net-Zero<\/h2>\n
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        • IOC aims to achieve net-zero operational emissions by 2046, demonstrating its commitment to environmental sustainability and combating climate change.<\/li>\n
        • The formation of a new subsidiary in the green energy segment is underway, subject to regulatory approvals, to support IOC\u2019s net-zero targets and renewable energy initiatives.<\/li>\n<\/ul>\n
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