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Indian Oil cancels green hydrogen tender for the third time
Industry News- Aug 09,24
The tender was notable for being the first attempt by an Indian company to establish the price of green hydrogen through a bidding process.
Indian Oil Corporation Ltd (IOCL) has once again cancelled its tender for the construction of India’s first green hydrogen plant at its Panipat refinery in Haryana, marking the third cancellation of the project.
The tender was notable for being the first attempt by an Indian company to establish the price of green hydrogen through a bidding process. However, IOCL updated the tender status to ‘cancelled’ on its website after receiving only two bids. The bidders were GH4India and Neometrix Engineering from Noida.
GH4India is a joint venture involving IOC, ReNew, and L&T. Industry sources suggest that the tender's cancellation may be attributed to allegations of preferential treatment towards GH4India. Despite IOCL addressing industry concerns, many companies that participated in the pre-bid meeting opted not to submit bids.
(ET)
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