Indian Oil Corporation cancels tender again for green hydrogen project
The Indian Oil Corporation (IOCL) has cancelled its tender for the Panipat refinery’s first green hydrogen project, announced on August 6. This project was significant for setting a market-driven price for green hydrogen in India. The cancellation followed the receipt of only two bids, including one from its joint venture partner, GH4 India. This tender had been reissued in March with revised guidelines to address concerns about preferential treatment.
The Indian Oil Corporation has cancelled the tenders for its first green hydrogen project at the Panipat refinery once again. The state-owned oil refining and marketing company announced the cancellation on its website on August 6.
The tender was important because it represented the first attempt by an Indian company to establish the price of green hydrogen through a bidding or market-driven process.
As per report by Economic Times, industry sources indicated that IOCL cancelled the tender after receiving just two bids, one of which was from its joint venture partner, GH4 India.
In March, the company had reissued the tenders for a second time with updated guidelines after concerns were raised about preferential treatment for the IOCL consortium.
Source Link : https://bioenergytimes.com/indian-oil-corporation-cancels-tender-again-for-green-hydrogen-project/
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