Greenstat Hydrogen is pleased to announce its partnership with Lanka IOC PLC, the only private sector company in Sri Lanka with a fuel distribution license. The two companies have recently signed a Memorandum of Understanding (MOU) and framework agreement, aiming to drive integration of renewable energy, green hydrogen, and its derivatives in the Sri Lankan energy landscape.
This landmark partnership between Greenstat Hydrogen and Lanka IOC marks one of the first hydrogen development programs in Sri Lanka. By joining forces, the collaboration aims to facilitate cross value chain technology transfer in green hydrogen production and downstream fuel operations. This initiative represents a significant step towards decarbonization and enhanced energy security in Sri Lanka.
Greenstat Hydrogen recognizes the tremendous potential of this partnership to set the standards for hydrogen adoption in the country. With Lanka IOC’s extensive operational expertise and market footprint in fuel distribution, combined with Greenstat’s experience in the hydrogen and renewables value chain, the collaboration holds promise for a sustainable energy future in Sri Lanka.
The joint efforts of Greenstat and Lanka IOC will focus on assessing opportunities in the downstream transport sector, including the adoption of green hydrogen in transportation, as well as the development of bunkering and supply solutions for green maritime and aviation fuels.
Lanka IOC PLC, a subsidiary of Indian Oil Corporation, operates retail petrol and diesel stations across Sri Lanka through an island-wide distribution network of 211 retail outlets. With its headquarters located in Colombo City, Lanka IOC is a key player in Sri Lanka’s private sector fuel retail industry.
Greenstat Hydrogen (Pvt) Ltd, a subsidiary of the Norwegian energy company Greenstat ASA, specializes in green energy and technology solutions, with a strong focus on green hydrogen, solar, wind, and zero-emission maritime solutions. The Greenstat Group’s vision, “Making Green Happen,” is dedicated to developing and operating sustainable energy and technology projects and investing in companies that contribute to a greener future. Leveraging its expertise in hydrogen, Greenstat is committed to driving the transition from fossil to renewable energy sources with zero emissions.
The partnership between Greenstat Hydrogen and Lanka IOC represents a major stride towards sustainable energy solutions and signifies a strong commitment to a low-carbon and environmentally conscious future for Sri Lanka. Both companies look forward to leveraging their strengths to accelerate the adoption of green hydrogen and renewable energy technologies in the country.
