Indian Oil Corporation Limited (IOCL) has invited an Expression of Interest (EOI) for setting up a solar power plant at its Panipat Refinery & Petrochemical Complex in Panipat. The proposed project will be developed on around 7.5 acres of unused land within the upcoming P25 township area and aims to support clean energy use at the refinery location.
The project will be implemented under the Renewable Energy Service Company (RESCO) model. In this structure, the selected bidder will take full responsibility for the project, including design, engineering, financing, supply, installation, testing, and commissioning of the solar plant. After completion, the developer will also manage operation and maintenance (O&M) for a period of 10 years. IOCL will provide the land on lease and will purchase the entire power generated from the plant at a tariff discovered through the bidding process.
To ensure capable participation, IOCL has set clear eligibility conditions. Interested companies must show strong financial health by submitting audited financial statements of the past three years with a positive net worth. They should also have prior experience in executing and maintaining solar PV projects. In terms of technical capacity, bidders must have completed similar projects in the last five years, such as one plant of at least 1500 kWp, or two plants of 1200 kWp each, or three plants of 900 kWp each. In addition, companies must be registered with the Ministry of New and Renewable Energy (MNRE) or other relevant authorities.
As part of its support, IOCL will provide the project site along with two to three grid connection points. It will also supply metered electricity and water required during construction and O&M activities. The selected contractor will be responsible for all other infrastructure, including laying cables, installing transformers, and setting up metering systems to connect the solar plant to the nearest IOCL substation.
The developer will also need to ensure a minimum level of energy generation as agreed in the Power Purchase Agreement (PPA). If the plant fails to meet these performance targets, penalties will be applied as per the contract terms.
The EOI was published on April 20, 2026. A site visit is planned within a week of publication, and interested bidders must inform IOCL at least two days in advance. Further details regarding final bid deadlines will be on 04th May 2026.
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