Oil India has announced a 50:50 joint venture with Rajasthan Rajya Vidyut Utpadan Nigam (RRVUNL) to accelerate its transition into clean energy.
Approved by Oil India’s board, the partnership will focus on renewable projects, especially solar and wind. The company also revealed that its existing renewable energy assets will be transferred at book value to its wholly-owned subsidiary, OIL Green Energy, under a business transfer agreement. Oil India said the move reflects its commitment to India’s push for faster adoption of renewables.
The venture is expected to strengthen its position in the green energy space while aligning with Rajasthan’s growing renewable footprint.