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IOC to Invest INR 25,000 Crore in Green Energy - Mr Singh

Gasoil News - Published on Thu, 22 Aug 2019

Image Source: India Today
Mr Sanjiv Singh chairman of Indian Oil Corporation said that IOC plans to invest INR 25,000 crore in green energy projects, including solar and wind power plants, bio-fuels plants, and solar panels at filling stations. Indian Oil has developed a road map and action plan to usher in clean and green energy alternatives to mitigate the risk of global warming. Rising environmental concerns are increasingly swaying government energy policies across the globe, prompting energy companies to invest in greener options. Over the next 5-7 years, Indian Oil aims to invest INR 2 lakh crore to evolve into a future-ready corporate that provides comprehensive energy solutions to diverse user groupe.

Mr Singh said that “Indian Oil is aggressively leveraging its R&D expertise to move into horizon technologies like 2G & 3G ethanol, biofuels, coal gasification, hydrogen-CNG, hydrogen fuel cells, battery technologies, etc.”

Indian Oil plans to scale up its solar and wind power portfolio to 260 MW by 2020 from 216 MW now, which includes 167 MW of wind and 49 MW of solar.

Source :

Posted By : Sanju Moirangthem on Thu, 22 Aug 2019
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