Oil India Limited (OIL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) have signed a Joint Venture Agreement (JVA) to develop 1.2 GW of renewable energy projects in Rajasthan. The JVC will develop 1000 MW of solar and 200 MW of wind power within RVUNL’s Renewable Energy Park, supporting India’s green energy goals and net-zero carbon emission targets by 2040.
Renewable Energy Partnership
Oil India Limited (OIL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) have formalized a Joint Venture Agreement (JVA) aimed at developing significant renewable energy capacity in Rajasthan. The agreement, signed on September 19, 2025, paves the way for establishing a Joint Venture Company (JVC) to execute the projects.
Project Details and Capacity
The JVC will focus on developing 1.2 GW of renewable energy projects, comprising 1000 MW of solar and 200 MW of wind energy. These projects will be located within RVUNL’s Renewable Energy Park in Rajasthan. This initiative leverages the expertise of both OIL and RVUNL to contribute to sustainable energy solutions.
Strategic Focus and Objectives
The partnership will harness OIL’s energy sector expertise and RVUNL’s extensive experience in power project development. The JVC will concentrate on solar, wind, green hydrogen, and other renewable energy initiatives, supplying clean power to Distribution Companies (DISCOMs) and commercial customers.
Commitment to Green Energy
This JVA aligns with Oil India’s goal of achieving net-zero carbon emissions by 2040. Furthermore, Oil India has established OIL Green Energy Limited (OGEL), a wholly owned subsidiary that drives OIL’s clean energy strategy by building a diversified portfolio in renewables, compressed biogas (CBG), energy storage, and green hydrogen.
Source: BSE
