Linde, Acme, Thermax among those interested in IOC's green hydrogen project 

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Indian Oil Corporation Ltd’s (IOCL) third attempt to secure bidders for its maiden green hydrogen project at Panipat, Haryana, has drawn a blend of domestic heavyweights and global giants, marking a significant shift in industry interest. Among the firms vying for the project are Praxair, a subsidiary of German industrial gas leader Linde;  renewable energy player Acme Group; and engineering solutions company Thermax, according to a notification posted on the IOCL website,  addressing pre-bid queries.

The tender, reissued in September, follows two earlier attempts that were scrapped due to tepid industry participation and allegations of preferential treatment for IOCL's joint venture with Larsen &Toubro and ReNew Power.  Last week, the oil marketing company pushed the deadline to submit bids by three weeks to December 2 amid a flux of queries by companies seeking to partner with it on this project.

Queries sent to IOCL, Acme, Thermax and Praxair remained unanswered.

Among the  most common responses submitted include bidders seeking clarity on eligibility criteria, particularly the acceptability of parent company experience in consortium bids, and requests for timeline adjustments due to project complexities. Frequent queries also involve defining events under force majeure clause and conditions for contract termination, such as material breaches, as per the notification uploaded on October 25.

In its third attempt, IOCL introduced a new criteria. To qualify, bidders must have secured the right to establish electrolyser manufacturing and/or green hydrogen production capacity under Mode-1 of the Strategic Interventions for Green Hydrogen Transition or SIGHT Programme, managed by the Ministry of New and Renewable Energy.

The green hydrogen generation plant in Panipat, with a capacity of 10,000 KTA, is slated to be the largest green hydrogen plant in the country.

On February 21, IOCL cancelled tenders for its inaugural green hydrogen plant to be set up in Panipat amid allegations that the nation's largest fuel retailer made "tailored" tender norms favouring a joint venture that included the state-run oil marketing company. The Independent Green Hydrogen Producers Association, comprising six renewable energy firms at the time, filed a petition in the Delhi High Court alleging that IOCL’s tender favoured its joint venture company.

Subsequently, IOCL reissued the tender in March, removing the controversial right of first refusal clause. But potential bidders flagged that IOCL also introduced changes to the eligibility criteria, making it difficult for them to participate in the bids.

The tender issued in March too was scrapped in August after several deadline extensions before a fresh offer for bids was opened in September. The multiple extensions underline concerns about project timelines and industry readiness.