IndianOil is leading a Green Energy Revolution by driving sustainability and innovation through its initiatives.
NEW DELHI (India CSR): IndianOil, a leading energy company, is making a monumental investment of Rs. 2.5 lakh crore to drive sustainability and meet its ambitious 2046 net-zero target. This investment is strategically allocated across multiple sustainability initiatives, including the expansion of renewable energy, biofuels, hydrogen energy, and electric mobility infrastructure. By channeling resources into cleaner energy alternatives, IndianOil is taking definitive steps towards achieving its long-term environmental goals while ensuring energy security for the nation.
By aligning with India’s ambitious sustainability goals, the company is strengthening its financial position while leading the transition to a cleaner, greener energy future.
Commitment to Sustainability and Growth
In the financial year 2023-24, IndianOil achieved a remarkable milestone, recording a five-fold increase in Profit After Tax (PAT) to Rs. 39,619 crore—the highest in the company’s history. This financial success reinforces IndianOil’s ability to balance profitability with sustainability. Guided by the vision of achieving net-zero operational emissions by 2046, in line with India’s target of net-zero by 2070, the company has declared 2024 as the ‘Year of Action for Green Transition’, underscoring its commitment to environmental responsibility.
As India envisions becoming a $30 trillion economy by 2047, IndianOil has set its sights on becoming a “One Trillion Dollar Company” by the same year. With an ambitious goal of fulfilling 12.5% of India’s energy needs by 2050, up from the current 9%, IndianOil is strengthening its position as a key energy provider in the nation’s growth trajectory.
Translating Green Ambitions into Reality
At IndianOil, sustainability is not merely a corporate responsibility but a fundamental aspect of its operational strategy. The company is making significant investments in low-carbon fuel solutions and expanding its portfolio to include a diverse mix of sustainable energy sources.
Investment in Clean Energy
IndianOil is investing over Rs. 2.5 lakh crore in sustainability initiatives to achieve its ambitious 2046 net-zero target. Collaborating with various stakeholders—including the government, industry partners, and customers—the company aims to accelerate India’s transition to a low-carbon economy. IndianOil’s commitment to sustainability was recognized globally in 2023, ranking as the top Indian company (23rd globally) in the BloombergNEF Transition Score and securing the title of India’s top-ranked Oil and Gas Company in the S&P Dow Jones Sustainability Indices 2023.
Terra Clean Limited: A Green Energy Subsidiary
To consolidate its green energy initiatives, IndianOil has established a wholly owned subsidiary, ‘Terra Clean Limited’, which will focus on low-carbon, clean, and green energy businesses. Under this entity, the company is developing 1 GW of renewable energy capacity with an investment of over ₹5,000 crore, ensuring optimized resource allocation and fostering technological innovation.
Revolutionizing the Green Fuels Landscape
IndianOil is actively shaping the future of India’s green fuel infrastructure by expanding its network of biofuels and clean energy solutions.
Expanding Biofuel Initiatives
As a leader in biofuel adoption, IndianOil is driving the SATAT initiative to promote biofuels as a sustainable automotive fuel. The company’s Compressed Biogas (CBG) retail brand, ‘Indigreen’, is rapidly expanding, contributing to waste-to-energy solutions while strengthening rural economies.
- As of March 31, 2024, IndianOil has commissioned 31 CBG plants, established 85 IndiGreen retail outlets, and invested in large-scale CBG production facilities.
- In FY 2024-25, the company plans to set up 30 additional CBG plants through joint ventures with Ever Enviro, GPS Renewables, and Praj Industries, with an investment of Rs. 3,000 crore.
- IndianOil is partnering with State Agriculture Universities to conduct field trials of Fermented Organic Manure, further strengthening the circular economy in agriculture.
Decarbonizing Aviation with Sustainable Aviation Fuel (SAF)
IndianOil is pioneering Sustainable Aviation Fuel (SAF) initiatives in collaboration with LanzaJet Inc, USA. The company is establishing an 86.8 TMTPA SAF plant in Panipat, utilizing Bioethanol as feedstock to significantly reduce carbon emissions in air travel. Furthermore, IndianOil has identified refineries for co-processing non-edible oils to produce SAF, aligning with global aviation sustainability goals.
Embracing the Energy Transition
Recognizing the role of e-mobility and hydrogen energy in the future of transportation, IndianOil has made significant advancements in clean mobility.
Building EV Infrastructure
- 3,601 EV charging stations (EVCs) & 16 battery swapping stations were commissioned in 2023-24.
- IndianOil now operates 10,000+ EVCs & 100 battery swapping stations across India.
- The company has launched India’s first green corridor of EV charging stations in Himachal Pradesh.
Advancing Hydrogen as a Fuel
IndianOil is actively developing green hydrogen solutions, including:
- 15 hydrogen fuel cell buses operating across India.
- A pilot project deploying hydrogen buses between Vadodara and the Statue of Unity.
- Establishing a 10-kilo tonne per annum green hydrogen plant at Panipat Refinery.
- Conducting hydrogen-blending pilot studies in collaboration with SNAM Italy.
Harnessing Innovation for Sustainability
Innovation and digitalization are key enablers in IndianOil’s sustainability roadmap.
Promoting Circular Economy
- The ‘Unbottled’ initiative repurposes PET bottles into sustainable uniforms, recycling 8 million PET bottles.
- The ‘Cycloplast’ brand promotes plastic neutrality by offering high-quality recyclates.
- IndianOil has deployed 350 Indoor Solar Cooking Systems in Madhya Pradesh as part of the ‘Suryotsva: Nutan Arambh’ clean cooking project.
Water and Waste Management
- 149.6 billion liters of water were consumed across operations in FY 2023-24.
- IndianOil has implemented rainwater harvesting systems across 2,900 hectares, capturing 7.24 billion liters of rainwater.
- The Lakshmi Nagar, Mathura Sewage Treatment Plant (STP), developed under a PPP model, has been replicated across multiple refineries to reduce water footprints.
Wildlife and Biodiversity Conservation
- IndianOil is engaged in conservation efforts for endangered species, including single-horned rhinoceroses, Olive Ridley turtles, cheetahs, and Royal Bengal tigers.
- The Haldia Refinery has partnered with the Sundarbans Tiger Conservation Foundation Trust to enhance tiger reserve patrolling.
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