Indian Oil Corp receives two bids for green hydrogen plant amid scrutiny and industry concerns
Indian Oil Corp (IOC) received just two bids to build the country’s first green hydrogen plant at its Panipat refinery in Haryana, said two industry executives aware of the development. This is in response to the second tender for the project, the first having been scrapped amid accusations of preferential treatment.
One of the two bidders, GH4India, is a joint venture owned equally by IOC, ReNew and engineering major Larsen & Toubro. GH4India was formed in FY23 for development of green hydrogen and its derivatives, including green ammonia and methanol, besides production and associated renewable assets.
Repeat of Last Year
The second bidder is Noida-based Neometrix Engineering, which specialises in turnkey projects, including special purpose machines, and gas handling and boosting systems. It has executed multiple EPC projects for IOC.
The IOC tender is the first Indian effort to determine the price of green hydrogen through a bidding or market-driven exercise.
But in a repeat of last year, which saw the cancellation of a tender for the same project, this time too some of the largest names in engineering and industrial gases have stayed away after initially showing interest by participating in a pre-bid meeting.
Last year’s tender had given rise to accusations of favouritism and restrictive pre-bid technical conditions benefiting the GH4India consortium. In February, ET reported the state-owned refiner had to scrap the maiden tender after it was challenged in the Delhi High Court by an industry association
