Oil India and Rajasthan Partner Up for Green Energy

Oil India Ltd. has announced the formation of a 50:50 joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Ltd. (RRVUNL) to accelerate its shift towards clean energy.

Approved by Oil India's Board, the joint venture will focus on the development of renewable energy projects, particularly in the solar and wind sectors. As part of its strategic restructuring, Oil India will transfer its existing renewable assets to its wholly-owned subsidiary, OIL Green Energy, at book value through a business transfer agreement.

This move underscores Oil India's commitment to supporting India’s clean energy transition and aligns with Rajasthan’s expanding renewable energy landscape. The partnership is expected to enhance Oil India’s presence in the green energy sector and contribute to national sustainability goals.

News by Rahul Yelligetti.