IOC formally inks pacts with Nuclear Power Corp

With this agreement, the Corporation would be foraying into nuclear power generation, a press release issued here last night stated. The state-run oil major has already forayed into renewable energy sources like solar, wind, bio-fuels and hydrogen.

IOC recently bagged a project in a competitive bidding to set up a 5.5 MW solar power project at Barmer, Rajasthan, the release added. The nuclear power industry is undergoing rapid expansion with plans to increase generation to 63,000 MW by 2032.