The largest oil firm in India, Indian Oil Corporation (IOC) is all set to build the country’s first ‘green hydrogen’ plant at its Mathura refinery. And, this step aims to prepare for a future catering to the growing demand for both oil and cleaner forms of energy.
IOC looks into research where it tries to meet climatic goals
Indian Oil Corporation has also been pushing ahead with the research on carbon capture, utilization, and the storage technologies-space where it has been seeking global collaboration to meet its Paris Climate goals.
However, this plant in Mathura will be India’s first green hydrogen unit. This is because the earlier projects have been announced to produce grey hydrogen with the use of fossil fuels such as natural gas.
This refinery of Mathura, for green hydrogen, has been selected by the virtue of its proximity to TTZ (Taj Trapezium Zone).
The green hydrogen will replace the carbon-emitting fuels that are used in the refinery for processing the crude oil into value-added products such as diesel and petrol.
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Chairman of IOC, Shrikant Madhav Vaidya discusses plan and strategy of this project
According to the Chairman of IOC, Shrikant Madhav Vaidya, IOC has drawn a strategic growth path that aims at maintaining the focus on its core refining and fuel marketing businesses, while also making the inroads into hydrogen, petrochemicals, and electric mobility over the next 10 years.
He also added that the company will not be setting captive power plants at its future refinery and petrochemical expansion projects.
It will instead use the 250 MW of electricity which the company produces from renewable sources like solar power.