IOC TO set up a 5 mw solar photovoltaic plant near Jodhpur
at Tuesday, September 6, 2011
IOC forays into solar power
To de-risk its balance sheet from rising under-recoveries in the long term, IndianOil (IOC) has forayed into solar power. The maharatna firm had earlier entered wind and nuclear power generation.
IOC will set up a 5 mw solar photovoltaic plant near Jodhpur in Rajasthan, AMK Sinha, director (planning and business development), told Financial Chronicle. The contract has been awarded to Bharat Heavy Electricals (Bhel), he added.
IOC’s strategy is to diversify its portfolio across the hydrocarbon chain. “We want to be among the top three players in every business,” Sinha said.
(Courtesy: Financial Chronicle, New Delhi, September 05, 2011)
