State-owned refiner India Oil Corporation targets expanding its capacity by using its clean electricity from the grid rather than setting up its own power plants. The company plans to increase its capacity by about 5,00,000 barrels per day (BPD) by 2023-24.
The refiner is setting up a green hydrogen plant at its refinery in Mathura in Uttar Pradesh, and the power for that will be wheeled from their existing wind power project in Rajasthan. This will ensure the generation of absolute green hydrogen via electrolysis.
Indian Oil has affirmed that green hydrogen obtained through water electrolysis acts as a substitute to the carbon-emitting fuels that are otherwise used in refineries to process crude oil into products such as diesel and petrol.
“We have got several expansion plans down the line which are already approved. We will not have a captive power plant and will utilise power from the grid, preferably green power. This will help decarbonise some part of the manufacturing,” Indian Oil’s remark on this development was quoted in a by The Economic Times.
The company is set to rely on electric and hydrogen mobility in the coming decade to further reinforce its business in the sectors of petrochemicals, refining and fuel retailing.
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