India’s largest oil firm IOC will set up ‘green hydrogen’ plants at its Mathura and Panipat refineries by 2024 to replace carbon-emitting units as it sees the just announced green hydrogen policy as a watershed moment in the country’s energy transition that will help cut costs. SSV Ramakumar, Director for Research and Development at Indian Oil Corporation (IOC), says the new policy will help cut the cost of manufacturing green hydrogen by 40-50 per cent.
“This (policy) is the single biggest enabler by the state for production of green hydrogen,” he told PTI here. Oil refineries, fertiliser plants and steel units use hydrogen as process fuel to produce finished products.
