IndianOil to consolidate green assets under one umbrella

During the first IndianOil Green Energy Summit held on Thursday, Indian Oil Corporation Ltd (IndianOil), the country's top refiner and fuel retailer, shared a wide array of sustainability endeavours poised to catalyse India's green energy transition. The company also underscored its intent to consolidate all its existing green assets under one umbrella and rapidly expand its footprint across sustainable energy avenues like biofuels, renewables, green hydrogen and CCUS (Carbon offsets & Carbon Capture, Utilization and storage).  Speaking on occasion, SM Vaidya, Chairman, IndianOil, remarked, "We will consolidate our green assets under one umbrella for better synergy. Our ambitious green roadmap also involves forging effective collaborations to nurture commercial-scale green businesses. We shall provide opportunities to investors and technology providers across the globe to partner in our journey. We aim to build a portfolio of 3 GW Renewable Energy and 0.6 MMT Biofuels by 2025; 35 GW Renewable Energy, 4 MMT Biofuels and 1 MMT Biogas by 2030 and 200 GW Renewable Energy, 7 MMT Biofuels and 9 MMT Biogas by 2050.