Oil India Ltd to invest Rs 25,000 crore in renewable energy by 2040
The Oil India Limited (OIL), a state-owned company, plans to invest Rs 25,000 crore in renewable energy to achieve net zero emissions by 2040.
Ranjit Rath, chairman and managing director of Oil India Ltd (OIL), on Thursday said that the company will invest in green hydrogen, solar, geothermal energy, 2G ethanol plant, compressed biogas plants, and carbon capture utilisation and storage (CCUS), along with initiatives to eliminate flaring.
Out of the Rs 25,000 crore, the company will invest Rs 8,000 crore in setting up a 2G ethanol plant, according to a report in the Financial Express (FE).
