Flagship Energy Major Targets 200 GW of Renewable Energy by 2050 as Part of a Massive Decarbonization and Green Energy Portfolio Expansion.
NEW DELHI – Indian Oil Corporation Limited (IndianOil) has been implementing a transformative Rs. 2.5 Lakh Crore strategic roadmap aimed at reaching Net-Zero operational emissions by 2046. This ambitious target, coinciding with the 100th anniversary of India’s independence, positions the company as a leader in the nation’s transition toward a low-carbon economy. As an environmentally conscious organization, IndianOil systematically measures and reports its Scope 1 and 2 emissions, which for the 2024-25 financial year amounted to approximately 22.53 MMTCO2e.
A Multifaceted Strategy for Decarbonization
- To drastically reduce its carbon footprint, the company is pursuing a diverse strategy that integrates cutting-edge technology with ecological restoration. Key areas of focus include:
- Green Hydrogen & Biofuels: Scaling up production through flagship projects like the 10 KTA green hydrogen plant at Panipat and the development of Compressed Biogas (CBG).
- Renewable Energy Expansion: Rapidly increasing wind and solar capacity to power operations, with a goal to reach 31 GW of renewable energy by 2030.
- Carbon Capture: Investing in Carbon Capture Utilisation & Storage (CCUS) and energy efficiency measures.
- Nature-Based Solutions: Engaging in large-scale tree plantation and ecological restoration, including planting over seven lakh trees in the last fiscal year.
Aggressive Green Energy Targets: 2030 and Beyond
Aligned with its Net-Zero commitment, IndianOil has established rigorous milestones for its green energy portfolio to drive industry-wide progress.
By 2030, the company plans to build a portfolio consisting of:
- 31 GW of renewable energy capacity.
- 4 MMT of biofuels and 1 MMT of biogas.
Looking further ahead to 2050, the vision expands exponentially to include 200 GW of renewable energy, 7 MMT of biofuels, and 9 MMT of biogas. To institutionalize these efforts, the company recently established Terra Clean Limited, a dedicated green energy subsidiary tasked with driving the development of its renewable portfolio.
Sustainable Product Stewardship
IndianOil is ensuring that its products remain safe and sustainable while contributing positively to the environment. The company is actively diversifying its greener product offerings through continuous R&D and building a low-carbon portfolio. These stewardship efforts are characterized by a strong emphasis on blended fuels, expanded natural gas infrastructure, and the development of high-performance lubricants designed for the modern energy landscape.
The company has already achieved significant milestones, such as reaching 17.2% ethanol blending and solarizing 89.2% of its retail outlet network.
(India CSR)
