IOC to set up fuel ethanol, EV battery plants
Plans in line with its energy transition initiative to tap alternative sources
Indian Oil Corporation Limited has firmed up plans to set up two ethanol plants in Telangana and Andhra Pradesh at about ₹600 crore each.
The company has received approvals from Telangana which has suggested two sites for the ethanol pant. Each plant will have capacity to produce about 5 lakh litres of ethanol per day.
It will soon finalise plans for a GigaWatt scale EV battery manufacturing plant jointly with an Israeli company. The battery made with aluminum, which is abundantly available in India, will have the capability to return about 400 km. Indian Oil is is talks with most of the OEMs on its battery plans.
SSV Ramakumar, Director (R&D), Indian Oil, said it is gearing up for energy transitions and its petrol pumps will be able to offer not just petrol and diesel but methanol, ethanol, CNG, LNG, battery-swapping services and electric vehicle charging facilities.
R&D in new energy
As a part of the Atmanirbhar Bharat initiatives and self reliance, a number of initiatives are being planned by IOCL and all of these will be rolled out in a phased manner. It is also engaging private sector to set up ethanol units assuring them of 100 per cent buy back, he said. Outlining IOCL R&D initiatives, the official said that the company’s second R&D centre, which is being set up with an investment of ₹2,300 crore, will be ready by 2023 and cover a number of new energy areas. RSS Rao, Executive Director, IOCL, and Head of TS and AP, said, “As the national energy scenario is transforming from liquid fuel centric to gas and alternate energy based one, our R&D is diligently working on equipping IndianOil to face the challenges in the future energy scenario through indigenisation of several technologies in sync with Atmanirbhar Bharat.”
The R&D Centre, which was originally lubes centric expanded its core competence in refinery process, catalysts and pipeline technology areas. It is currently focusing on the complete range of sunrise areas and alternate energy domains including petrochemicals, plastic neutrality, biofuels, hydrogen, fuel cells, energy storage batteries for EVs and carbon capture technologies.
Referring to the pilot project of running 50 hydrogen CNG-powered buses in Delhi, he said it is proposed to expand the scope of the project, which is being closely monitored by the Supreme Court.