State-owned IndianOil plans to have about 2 million tons of green hydrogen capacity in its portfolio by 2050.
IndianOil has announced plans to achieve net zero operational carbon emissions by 2046 with a diversified 35 GW renewable energy portfolio.
Its goal is to obtain one million tons of biogas and 4 million tons of biofuels by 2030. In addition, it aims for 200 GW of renewable energy, 9 million tons of biogas and 7 million tons of biofuels by 2050. 0.4 million tonnes of green hydrogen in 2030 and IndianOil also has around 2 million tonnes of green hydrogen by 2050.
The oil major is consolidating all of its existing green assets into one entity and scaling its footprint across sustainable energy forms such as biofuels, renewables, green hydrogen and CCUS (carbon offsets and carbon capture, utilization and storage).