Indian Oil Corporation to Invest Rs 5,215 cr in green power

Indian Oil Corporation announced plans to invest ₹5,215 crore in developing 1 GW of renewable energy capacity in India. The investment, approved by its board, will focus on standalone ground-mounted solar, onshore wind, or wind-solar hybrid projects in phases. Indian Oil will contribute ₹1,304 crore in equity for the initiative, housing its renewable energy business in a wholly-owned subsidiary.