Board of Indian Oil Corporation approves investment in proposed green energy subsidiary

At meeting held on 30 April 2024

The Board of Indian Oil Corporation at its meeting held on 30 April 2024 has approved implementation of 1 GW installed capacity of Renewal Energy (RE) projects comprising standalone ground mounted Solar or standalone onshore Wind or Wind-Solar Hybrid projects at an estimated cost of Rs. 5,215 crore including taxes & duties in a phased manner through the proposed wholly owned subsidiary in domain of low carbon, new, clean & green energy business.

The Board also approved an investment of Rs 1,303.75 crore as equity in aforesaid proposed WoS for implementation of 1 GW installed capacity of RE.

 

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