Indian Oil Corporation Ltd establishing India's largest green hydrogen plant at its Panipat Refinery and Petrochemical Complex in Haryana

$IOC establishing India's largest green hydrogen plant at its Panipat Refinery and Petrochemical Complex in Haryana with a capacity of 10,000 tonnes per annum. The plant is scheduled for commissioning by December 2026 initially, with a finalized target of December 2027. IOC has finalized the cost estimate for the plant, and the hydrogen price is expected to be USD 4.66 per kg, which is lower than the government's target of ₹5 per kg. The company will first replace grey hydrogen with green hydrogen at its refineries as part of its $30 billion net-zero plan by 2040, and plans to establish a nationwide network of green hydrogen fuel dispensing stations starting with Panipat. This initiative will substantially reduce carbon emissions by replacing fossil-derived hydrogen in refinery operations.