Oil India Ltd's Rs 25,000 Crore Investment in Clean Energy for Net Zero Emissions
Key Ideas
- Oil India Ltd plans to invest Rs 25,000 crore in clean energy projects to achieve net zero carbon emissions by 2040.
- The company's net zero plan includes reducing gas flaring, commercializing stranded gas, setting up renewable electricity generation capacity, constructing green hydrogen plants, and biogas and ethanol plants.
- In addition to clean energy projects, Oil India Ltd aims to increase crude oil and natural gas production, invest in solar projects, and lay a pipeline to transport natural gas from Arunachal Pradesh to Assam.
- The company's efforts align with other state-owned firms in India like IOC, ONGC, BPCL, GAIL, and HPCL, who are also investing in achieving net zero emissions within similar timelines.
Oil India Ltd, a state-owned company, announced its plan to invest Rs 25,000 crore in clean energy projects to support the goal of achieving net zero carbon emissions by 2040. The investment will focus on various initiatives including renewable energy, green hydrogen, and biogas plants. Additionally, the company aims to enhance its crude oil and natural gas production to 9 million tonnes by 2025-26. Oil India Ltd plans to reduce gas flaring, commercialize stranded gas, and build renewable electricity generation capacity. Furthermore, a pipeline will be laid to transport natural gas from Arunachal Pradesh to Assam for reducing the use of polluting liquid fuels. The company is actively involved in solar projects and aims to increase its drilling activities to boost production. The investment aligns with the efforts of other state-owned firms like Indian Oil Corporation (IOC), ONGC, BPCL, GAIL, and HPCL, who are also working towards achieving net zero emissions in the near future.
Topics
Investing
Green Hydrogen
Renewable Energy
Clean Energy
Carbon Emissions
Investment
Net Zero Emissions
Oil Production
Biogas Plants
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