IOC perseveres with expansion of refineries

State-run refiner IOC, which caters to more than 40 percent of the country’s fossil fuel demand, aims to increase its use of electricity generated by renewable energy sources, as it expands its core refining capacity.

“For all refinery expansions that we are planning, normally we would have captive power plants. But we are not putting any conventional power plants for the projects. That will be one big step towards energy transition,” said Vaidya.