+
Indian Oil plans to set up 10k EV charging stations in India
POWER & RENEWABLE ENERGY

Indian Oil plans to set up 10k EV charging stations in India

Chairman of Indian Oil Corporation Limited (IOCL), S M Vaidya, told the media that it would set up 10,000 electric vehicle (EV) charging stations within the next three years in India to boost the EV ecosystem in the country.

Vaidya said that the company will support PM Narendra Modi's commitment to achieve net-zero emissions by 2070 under the initiative towards climate change. EV charging stations will be a small step for the EV system. He also committed more initiatives to increase renewables in the economy and reduce carbon intensity.

IOCL will soon unveil its net-zero emissions target. Large refiners, including India Oil, use enormous energy internally, mostly based on fossil fuels. Global oil majors like Bharat Petroleum (BP) and Shell are pledged to reach net-zero emissions by 2050.

Electric mobility is the main tool to fight against emissions that have risen disproportionately over the past years with the increased number of fossil fuel vehicles.

Fossil fuel-based retailers have begun to scale up their EV charging to ensure they have relevant supplies in future for new vehicle sales. This year in September, Hindustan Petroleum announced its plan to set up 5,000 EV charging stations in the next three years. BP plans to set up 1,000 EV charging stations. The joint venture partner of BP and Reliance Industries also plans to set up EV charging stations in the existing and new pumps.

Vaidya said that currently, Indian Oil has 448 EV charging stations and 30 battery swapping stations in India. The country plans to raise EV charging stations to 2,000 within one year and add 8,000 more in the next two years. These stations come up in their fuel stations. It also plans to invest Rs 150 crore to Rs 200 crore to build its EV network to benefit EV manufacturers and buyers.

Image Source

Also read: Tata Power reaches 1,000 EV charging station milestone in India

Chairman of Indian Oil Corporation Limited (IOCL), S M Vaidya, told the media that it would set up 10,000 electric vehicle (EV) charging stations within the next three years in India to boost the EV ecosystem in the country. Vaidya said that the company will support PM Narendra Modi's commitment to achieve net-zero emissions by 2070 under the initiative towards climate change. EV charging stations will be a small step for the EV system. He also committed more initiatives to increase renewables in the economy and reduce carbon intensity. IOCL will soon unveil its net-zero emissions target. Large refiners, including India Oil, use enormous energy internally, mostly based on fossil fuels. Global oil majors like Bharat Petroleum (BP) and Shell are pledged to reach net-zero emissions by 2050. Electric mobility is the main tool to fight against emissions that have risen disproportionately over the past years with the increased number of fossil fuel vehicles. Fossil fuel-based retailers have begun to scale up their EV charging to ensure they have relevant supplies in future for new vehicle sales. This year in September, Hindustan Petroleum announced its plan to set up 5,000 EV charging stations in the next three years. BP plans to set up 1,000 EV charging stations. The joint venture partner of BP and Reliance Industries also plans to set up EV charging stations in the existing and new pumps. Vaidya said that currently, Indian Oil has 448 EV charging stations and 30 battery swapping stations in India. The country plans to raise EV charging stations to 2,000 within one year and add 8,000 more in the next two years. These stations come up in their fuel stations. It also plans to invest Rs 150 crore to Rs 200 crore to build its EV network to benefit EV manufacturers and buyers. Image Source Also read: Tata Power reaches 1,000 EV charging station milestone in India

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?