State-owned Indian Oil Corporation (IOC) has finalised the levelized cost of hydrogen (LCoH) 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 IOC’s entry into the green hydrogen space with India’s largest-ever green hydrogen project to date,” the firm said in a statement. IOC, however, did not give costing and other financial details.
”Slated for commissioning by December 2027, the green hydrogen produced will replace fossil-derived hydrogen in refinery operations, resulting in a substantial reduction in carbon emissions,” it said.
Hydrogen is a versatile fuel with vast applications across various industries, ranging from oil refineries to steel plants, and can power cars, trucks, trains, ships, and even industrial processes. 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 makes only water.
IOC said the Panipat project is fully aligned with the government’s vision for the 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.