NEW DELHI: State-run Oil India (OIL) is planning to invest around ₹8,000 crore in the 2G ethanol space, as part of its overall target of achieving net zero emissions by 2040, reported Live Mint.
This substantial investment will be a consolidated effort between Oil India and its subsidiary, Numaligarh Refinery Ltd (NRL), with the latter being responsible for establishing the ethanol plant.
Speaking to the media, Ranjit Rath, the CMD of Oil India, disclosed that the company’s comprehensive investment strategy, aimed at achieving net-zero emissions by 2040, encompasses diverse areas such as 2G ethanol, green hydrogen, compressed biogas (CBG), and solar power. Rath elaborated on the 2G ethanol commitment, stating, “In the 2G ethanol space, we are contemplating an investment of approximately ₹8,000 crore.” He additionally noted that the company had secured a mandate to establish approximately 25 CBG plants.
Furthermore, Oil India’s foray into solar power will materialize with the establishment of a 640-MW solar power facility in Assam and a 150-MW solar plant in Himachal Pradesh.
