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Indian Oil Finalizes LCOH for India's Largest Green Hydrogen Plant at Panipat

Indian Oil Corporation Ltd. (IOCL) has finalized the Levelized Cost of Hydrogen (LCOH) for its upcoming 10,000 tonnes per annum (TPA) green hydrogen plant at the Panipat Refinery and Petrochemical Complex. This will be India’s largest green hydrogen project so far and marks IOCL’s formal entry into the green hydrogen sector.

The plant is scheduled to be operational by December 2027. The green hydrogen produced will replace fossil-based hydrogen currently used in refinery processes, significantly reducing carbon emissions. This initiative aligns with the National Green Hydrogen Mission and is part of IOCL’s broader decarbonization strategy aimed at achieving net-zero operational emissions by 2046.

In addition to green hydrogen, IOCL is expanding aggressively in the renewable energy space. Just last month, its board approved an extra investment of Rs1,086 crore into its subsidiary Terra Clean for developing 4.3 GW of new renewable energy projects. This is over and above the previously sanctioned 1 GW of capacity.

Currently, IOCL’s renewable energy assets include 238.7 MW—comprising 167.6 MW of wind and 71.1 MW of solar power. The company aims to scale up its renewable capacity to 31 GW by 2030 while also venturing into biofuels, carbon capture, and carbon offset programs to ensure a sustainable energy future.