Indian Oil Corporation (IOCL) is gearing up for a renewed push into the green hydrogen landscape. Despite recent setbacks involving a cancelled tender, IOCL is set to reenter the market with a revised tender for its inaugural green hydrogen plant in Panipat.
IOCL’s ambitious green hydrogen project aims to establish a pioneering facility at its Panipat Refinery and Petrochemical Complex. This strategic move aligns with India’s broader vision for a sustainable energy transition, emphasizing the significance of green hydrogen in achieving environmental goals.
The proposed green hydrogen plant will leverage cutting-edge technology, combining electrolysis with renewable energy sources. IOCL plans to integrate renewable power to produce green hydrogen efficiently, minimizing environmental impact and contributing to the nation’s clean energy objectives.
IOCL’s initial tender faced legal challenges from the Independent Green Hydrogen Producers Association (IGHPA), alleging favoritism towards the IOCL joint venture, GH4 India. The Right of First Refusal (ROFR) clause, perceived as biased, became a focal point of contention, leading to the cancellation of the original tender. The upcoming retender will incorporate changes to address these concerns and foster a fair competitive environment.
A recent report by consulting firm Alvarez & Marsal suggests that India should commit a significant outlay of $4–12 billion for its green hydrogen program. The potential benefits include reduced imports, economic growth, and a substantial share in the global energy trade.
