Saturday, May 25, 2024
HomeAll NewsGreen HydrogenIOCL extends bid submission dates for first green hydrogen plant

IOCL extends bid submission dates for first green hydrogen plant

Indian Oil Corporation has decided to extend the deadline for bid submissions for its first green hydrogen plant in Panipat by an additional two weeks, reported Moneycontrol.

Initially scheduled to close on April 23, the bidding period, which began on April 15, will now conclude on May 7. This extension was granted in response to requests from potential bidders seeking more time to finalize partnerships in compliance with the adjusted tender guidelines.

As per news report published in Moneycontrol, the official, who preferred to remain anonymous, explained that many bidders are still in the process of meeting the tender’s specifications and forming joint ventures (JVs) involving multiple entities. The extended timeline aims to accommodate these requests.

In March, a revised tender was issued after the original one was annulled due to allegations that its terms favored a joint venture involving Indian Oil Corporation. The updated tender introduced several changes, including a requirement that a consortium or JV must consist of a maximum of three members, each holding a minimum stake of 26 percent. This stipulation was absent from the earlier version.

The state-owned company initially launched the green hydrogen plant initiative in Panipat in August 2023, aiming for a production capacity of 10,000 kilo tonnes per annum (KTA). Once operational, this facility will become the largest green hydrogen plant in India.



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular