Ocior Energy Wins Contract to Supply Green Hydrogen to HPCL's Visakhapatnam Refinery
Key Ideas
- Ocior Energy secures a contract to supply 5,000 tonnes of green hydrogen annually to HPCL's Visakhapatnam refinery at ₹328 per kilogram, becoming the lowest bidder.
- The green hydrogen plant will be operational for 25 years under a build, own, and operate model, aiding HPCL's transition towards cleaner energy.
- HPCL's Visakhapatnam refinery aims to replace grey hydrogen with green hydrogen, promoting sustainability and reducing carbon emissions in their operations.
- Bidders competed solely based on quoted prices, with Ocior Energy outbidding competitors like L&T Energy Green Tech and Jakson Green in the tender process.
Abu Dhabi-based Ocior Energy has won a significant contract to supply 5,000 tonnes of green hydrogen annually to HPCL's Visakhapatnam refinery in Andhra Pradesh, India. The green hydrogen plant, to be operated for 25 years, will be established under a build, own, and operate model with Ocior offering the supply at ₹328 per kilogram, making it the most cost-effective bid. This initiative marks HPCL's move towards cleaner energy, following in the footsteps of IOCL's Panipat refinery which also finalized a green hydrogen supply contract. Ocior Energy, known for its expertise in green hydrogen and green ammonia production, has a track record of successful projects in various regions including Asia, the Middle East, and North Africa. The competitive bidding process attracted interest from multiple bidders, with the focus solely on the pricing of green hydrogen. The selected bidder will be responsible for setting up the hydrogen generation facility and ensuring seamless integration with HPCL's existing infrastructure. HPCL's decision to shift towards green hydrogen aligns with its sustainability goals and commitment to reducing carbon emissions. Overall, this contract signifies a positive step towards a cleaner and more sustainable future in the energy sector.