Page 42 - Plastics News December 2021

BUSINESS NEwS

Indian Oil Sign MoU With NTPC For SABIC And HHI

Collaboration On Renewable Energy Collaborate To Create
Circular Polymers

ABIC, a global leader in the
Schemical industry, and Malaysia-
based plastic recycling company, HHI,
have announced a new collaboration
to create certified circular polymers
produced through the advanced
recycling of recovered mixed and
used ocean-bound plastic. The certified
circular polyolefins from ocean-bound
plastic, from SABIC’s TRUCIRCLE™
portfolio of circular solutions, will
be used by the company’s customers
to announce new products over the
IndianOil and NTPC signed a which will constitute nearly 45% of coming months. As well as helping to
Memorandum of Understanding its overall power generating capacity. protect our oceans and waterways, the
to collaborate and mutually explore IndianOil and NTPC have come together ocean-bound plastic collection helps
opportunities in the field of renewable for the generation and storage of to create value for local communities
energy. The MoU was signed today renewable energy or other cleaner forms by increasing demand for recycled
at New Delhi in the presence of Mr of energy, including gas-based power, plastic across the industry. The
Shrikant Madhav Vaidya, Chairman primarily to cater for IndianOil Refineries material is recovered by HHI partners
IndianOil and Mr Gurdeep Singh, or other installations. IndianOil has plans
Chairman & Managing Director, NTPC. to scale up its portfolio of renewable
Dr SSV Ramkumar, Director R&D and energy with solar, wind, etc., for refinery
P&BD, IndianOil and Mr C K Mondol, operations, thereby reaffirming its
Director Commercial, NTPC, were also commitment towards environmental
present on the occasion. This is a first- sustainability and reduction of carbon
of-its-kind initiative by two leading Public footprints. IndianOil plans to meet
sector energy majors of India to support 85% of the power requirement for new
the country's commitment to achieve projects in its refineries primarily from
renewable energy targets and reduce renewable sources in the near future.
greenhouse gas emissions.Speaking IndianOil is also well poised to leverage –predominantly in Malaysia from
on the occasion, Mr Shrikant Madhav India's sustainable commitments through ocean-feeding waterways and inland
Vaidya, Chairman, IndianOil, said, "As multiple green initiatives, including areas within a 50 km radius of the
a global energy major, environmental increased use of natural gas in all ocean. The recovered material is then
priority is being weaved into every refineries, ethanol-blended Motor Spirit, sent to HHI, one of the first Plastic
business aspect of IndianOil, and now, sale of Compressed Biogas (CBG) and Oceans accreditated organisations
we intend to use green energy to power production of biodiesel using cooking where the company converts the
new projects and refinery expansions." oil as feedstock. IndianOil's R&D team used plastic into pyrolysis oil through
Mr Gurdeep Singh, CMD, NTPC, said, has undertaken various pilot projects in advanced recycling. The pyrolysis oil is
"NTPC is taking various steps to make the field of solar power, solar thermal then used by SABIC in its production
its energy portfolio greener by adding and solar hydrogen and has been leading process as an alternative to traditional
significant capacity of renewable energy India's foray under the Government fossil materials to make new certified
sources & plans to have 60GW capacity of India's National Green Hydrogen circular polymers under the Zero
through renewable sources by 2032, Mission. Plastic Oceans accreditation.

42 PLASTICS NEWS DECEMBER 2021