IOC to acquire up to 6 GW of renewable energy projects

Indian Oil Corporation (IOCL) plans to acquire five to six GW of solar and wind power projects to expand its renewable energy portfolio. The company targets 31 GW of renewable energy capacity by 2031 through organic growth, joint ventures, and mergers and acquisitions. IOCL currently has a renewable energy capacity of 246.94 MW and established Terra Clean, a wholly owned subsidiary, in 2024 to drive clean energy operations. Terra Clean aims to develop 1 GW…