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Indian Oil relaunches green hydrogen plant tender

Indian Oil Corporation (IOCL), the country’s largest fuel retailer, has relaunched tenders for its first green hydrogen plant in Panipat, with the bidding process scheduled to commence on April 15, reported Money Control.

The revised tender, issued earlier in March, appears to have addressed concerns raised by developers regarding discriminatory clauses.

In February, the state-run oil marketing company scrapped the tender following a legal challenge by a group of renewable energy firms who alleged that the nation’s largest fuel retailer had crafted tender norms favoring a joint venture including IOCL.

As per media report, the updated tender has eliminated the controversial ROFR (right of first refusal) clause, which The Independent Green Hydrogen Producers Association (IGHPA) claimed was designed to benefit IOCL’s JV company GH4 India.

IOCL did not immediately respond to a request for comment when contacted by Moneycontrol after business hours.

“This time the tender doesn’t include the ROFR clause, however, the qualification criteria are slightly more stringent,” said Anshul Gupta, co-founder and chief of strategy and innovations of green hydrogen firm Hygenco.

The new tender stipulates that consortia or joint ventures participating must consist of a maximum of three members, each holding a minimum 26 percent stake. The previous tender did not specify a minimum stake requirement.

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