IOC to set up India’s first green hydrogen unit to boost sustainability

Indian Oil Corporation (IOC), a Government of India owned oil and gas entity, has reportedly inked a deal to develop the nation’s first ‘green hydrogen’ facility at its Mathura refinery in a bid to meet increasing demand for oil and cleaner forms of energy.  

According to a statement by Shrikant Madhav Vaidya, Chairman, IOC, the organization is following a strategic growth path that focuses on maintaining its core refining and fuel marketing business along with building bigger inroads into hydrogen, electric mobility, petrochemicals over the next ten years.

Mr. Vaidya added that the corporation is not likely to establish power plants at its refinery and petrochemical expansion schemes and instead use 250 MW of power it produces from renewable forms of energy like solar.

Moreover, he mentioned that the Indian Oil Corporation has a wind farm project in Rajasthan that the company intends to wheel the power to its Mathura refinery and use the electricity to produce green hydrogen using electrolysis.

Elaborating further on the deal, Vaidya said that Mathura has been selected due to its proximity to Taj Trapezium Zone. Moreover, green hydrogen is likely to replace the carbon-releasing fuels that are used in the refinery to process crude oil into products like diesel and petrol.  

For the record, the upcoming project is slated to be India’s first green hydrogen center. Earlier, projects had been announced to develop green hydrogen with the help of fossil fuels like natural gas.

As per reliable sources, IOC’s refinery expansion projects include increasing the capacity of units at Barauni, Bihar, Panipat in Haryana, and establishing a new facility near Chennai.

The organization is believed to be adding 25 million tonnes of refining capacity by 2023-2024. Indian Oil Corporation’s current capacity stands at 80.5 million tonnes including CPCL and in the coming times will increase to 105 million tonnes.

Source Credit: https://www.business-standard.com/article/companies/ioc-to-build-india-s-first-green-hydrogen-plant-at-mathura-refinery-121072000581_1.html