Indian Oil Corporation Limited (IOCL) has finalised the levelised cost of hydrogen (LCOH) for the green hydrogen generation unit at its Panipat refinery and petrochemical complex. The project, to be commissioned by December 2027, is expected to produce 10,000 tonnes of green hydrogen annually.
This production will replace the fossil-fuel-based hydrogen currently used in the Panipat refinery operations and contribute to a significant reduction in carbon emissions. The project marks IOCL’s formal entry into the green hydrogen sector and is reported to be the largest such initiative in the country to date. Tenders for the project at the Panipat facility have been received and are currently under evaluation. The company expects to award the contract within a month.
In May 2025, IOCL awarded L&T Energy GreenTech Limited the contract to develop a 10 kilo tonnes per annum green hydrogen production facility at the Panipat refinery complex in Haryana on a build-own-operate basis, at a discovered price of Rs 397 per kg.
