IOCL green H2 tender in legal mess, gets one bid
NEW DELHI : The tender to set up the first green hydrogen plant of state-run oil refiner and marketer Indian Oil Corp. Ltd (IOCL) received one bid till the 29 November deadline, people aware of the development said. The bid came from GH4India Pvt.
Ltd, which is IOCL’s own joint venture (JV) with infrastructure and engineering major Larsen & Toubro (L&T) and renewable energy company ReNew, the people said on the condition of anonymity. The JV, in which all three companies have equal stakes, was formed this year in August. Meanwhile, an industry body of green hydrogen firms has approached the Delhi high court, alleging bias towards IOCL’s JV in the tender clauses.
“Around 50 players had participated in the pre-bid consultation. However, only one player submitted the bid due to the right of first refusal clause," said another person aware of the development. According to the people cited above, the right of first refusal clause (Clause 19 of the tender) gives IOCL preferential right to purchase excess green hydrogen generated at the green hydrogen generation unit (GHGU).
In case IOCL does not confirm the purchase within 60 days, the operator can offer the gas to third-party customers. However, the price offered to them cannot be lower than what was offered to IOCL. Other terms and conditions offered, too, must be less favourable than those offered to IOCL.
Read more on livemint.com
