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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