Indian Oil Corporation Ltd Green hydrogen and energy transition

IOC is building India’s largest green hydrogen plant at its Panipat refinery (10,000 tonnes per annum), with supply contracted for 25 years at about ₹397 per kg, and targets 3.5 lakh tonnes per year of renewable hydrogen capacity by 2030 across multiple refineries. The company plans to replace grey hydrogen in refineries first and then retail green hydrogen for mobility via a nationwide hydrogen-fuel station network, starting with Panipat by late 2026