IOC to invest Rs 700 cr in renewable energy

Indian Oil Corporation (IOC) plans to infuse Rs 500 crore to set up solar power panels and power plants at its 18,100 retail outlets across the country. It will set up solar power panels of nearly 30 kW each on a pilot basis to cater to the power requirements of the retail outlets. The company also intends to set up solar and wind power plants at various locations in the country at an outlay of Rs 200 crore. The company has formed a new project division, Renewable Energy and Sustainable Development, which will take up projects on renewable energy. Contact: Indian Oil Corporation. Tel: 0112626 0000. Website: www.iocl.com