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IOCL’s Strategic Investment in Renewable Energy through Terra Clean
May 02, 2025
Indian Oil Corporation (IOCL) has approved an additional equity investment of Rs1,086 crore investment to kickstart its renewable energy development. The company is focusing on wind, solar, and hybrid systems, with plans to install 1 GW of renewable energy projects worth Rs5,215 crore.
Terra Clean’s renewable energy portfolio currently includes 238.70 MW (167.6 MW wind, 71.10 MW solar). IOCL's goal is to reach 31 GW of renewable capacity by 2030 and achieve net-zero operational emissions by 2046. Additionally, Terra Clean has ambitious biofuel and biogas production targets, aiming for 6 lakh metric tons of biofuel by 2025 and scaling up significantly by 2050.
As part of its growth, Terra Clean has floated tenders for land, power evacuation, and balance of plant packages for wind and solar power projects, driving its renewable energy expansion.