Indian Oil Corporation’s (IOC) green hydrogen project has received few bids. The main bidders are GH4India, a joint venture by IOC, ReNew, and Larsen & Toubro, and Neometrix Engineering from Noida. GH4India was created last year to develop green hydrogen and its derivatives like green ammonia and methanol. Neometrix Engineering is known for its work on gas handling systems and has done projects for IOC before.
This tender is India’s first attempt to set green hydrogen prices through competitive bidding. However, many big engineering and gas companies did not bid, even though they showed interest earlier. Last year, the first tender was canceled due to claims of bias and technical conditions favoring the GH4India consortium. This led to legal issues.
IOC extended the bidding period several times over four months to get more participation. About 30 companies got pre-bid documents in May, including major firms from India and abroad. Currently, IOC is evaluating the bids based on experience with hydrogen systems, EPC capabilities, and work in refineries or petrochemical sectors.
Critics say the eligibility criteria favor consortiums like GH4India, where IOC has a significant stake. Some potential bidders asked for more time to form joint ventures with established gas companies because of the strict technical requirements. IOC has not yet responded to these requests.
