IndianOil is scaling up its renewable energy efforts through both organic and inorganic means, aiming for 18 GW of capacity by 2028 and 31 GW by 2030. To drive this ambition, the company has established Terra Clean Ltd., a wholly owned subsidiary incorporated in May 2024, to lead its low-carbon and sustainability initiatives. IndianOil Board had approved equity investment of INR 1303.75 crore for the development of 1 GW of renewable energy capacity. Building on this, the Board has approved an additional equity infusion of INR 1,086 crore into Terra Clean Ltd. for the implementation of 4.3 GW of additional renewable energy capacity.
