Oil India (OIL) has entered into a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to develop 1.2 GW of renewable energy projects in Rajasthan.

The projects, to be set up within RVUNL’s Renewable Energy Park, include 1,000 MW of solar power and 200 MW of wind power capacity. The joint venture will combine OIL’s energy sector expertise with RVUNL’s experience in power project development to deliver sustainable energy solutions. "The partnership will focus on solar, wind, green hydrogen, and other renewable energy initiatives, supplying clean power to Distribution Companies (DISCOMs) and commercial customers," the company said.

The agreement was signed by Devendra Shringi, RVUNL CMD, and Ranjan Goswami, OIL Executive Director, with key officials present.

The announcement comes alongside OIL’s MoU with Hindustan Copper for exploration of critical minerals, marking the company’s expansion into green energy and strategic mineral ventures under its subsidiary, OIL Green Energy (OGEL).