IOC bets big on green hydrogen

New Delhi: Indian Oil Corporation (IOC) is targeting to replace at least a tenth of its current fossil-fuel-based hydrogen at its refineries with carbon-free green hydrogen as part of a decarbonization drive.

To start with, the nation's largest oil firm is setting up green hydrogen plants at its Panipat and Mathura refineries, IOC said in its latest annual report. "The company is venturing into green hydrogen production and is targeting 5 per cent of hydrogen produced by it as green hydrogen by 2027-28 and 10 per cent by 2029-30," it said. Hydrogen is the cleanest known energy source but it barely exists in a pure form on Earth. It either is bounded with oxygen in water or with carbon to form hydrocarbons like fossil fuels.

Once separated from other elements, hydrogen's utility increases: it can be converted into electricity through fuel cells, it can be combusted to produce heat or power without emitting carbon dioxide, used as a chemical feedstock, or as a reducing agent to reduce iron ores to pure iron for steel production. Most of the hydrogen currently produced is grey which is produced from fossil fuel and as carbon emissions.

Green hydrogen is produced using electrolysis powered by renewable energy to split water molecules into oxygen and hydrogen, creating an emissions-free fuel. As part of its decarbonisation drive, IOC is looking to replace hydrogen made by unabated fossil fuels with green hydrogen.