New Delhi: In a strategic move to accelerate its green energy transition, Indian Oil Corporation (IOC) today approved an additional equity investment of ₹1,086 crore in its wholly-owned subsidiary, Terra Clean Ltd., during its Board meeting held on April 30.
The fresh capital infusion will support the development of an additional 4.3 GW of renewable energy (RE) capacity, supplementing the already approved 1 GW capacity under Terra Clean’s portfolio. With this, IOC reaffirms its long-term commitment to sustainable energy and its vision to become a key player in India’s clean energy space.
Terra Clean Ltd., incorporated in May 2024, was established by IOC to consolidate its green energy ventures, streamline operations, and drive innovation in the renewable sector. At the time of incorporation, IOC had invested ₹1,304 crore (₹13.04 billion) into the company as initial capital.
Aimed at redefining the future of energy, Terra Clean focuses on clean and renewable energy solutions, aligning with India’s national goals on sustainability and carbon reduction. The new investment marks a significant scale-up in Indian Oil’s green energy roadmap.
As the country pushes forward with energy diversification and climate goals, IOC’s enhanced commitment through Terra Clean Ltd. is expected to contribute meaningfully to India’s renewable energy targets and bolster the company’s evolving energy portfolio.
About IOC
IOC, trading as IndianOil, is an Indian multinational oil and gas company under the ownership of the Government of India and administrative control of the Ministry of Petroleum and Natural Gas. It is a public sector undertaking which is registered in Mumbai but headquartered in New Delhi. It is the largest government-owned oil producer in the country both in terms of capacity and revenue.
