Oil India, RVUNL to develop 1.2 GW renewable energy projects in Rajasthan

Oil India Limited (OIL), a Maharatna CPSE, and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), under the government of Rajasthan, have signed a Joint Venture Agreement (JVA) to establish a Joint Venture Company (JVC). This JVC will develop 1.2 GW of renewable energy projects within RVUNL's Renewable Energy Park in Rajasthan. The projects will comprise 1000 MW of solar and 200 MW of wind power.

The JVA was signed by devendra shringi, chairman & managing director of RVUNL, and ranjan goswami, executive director (business development) of OIL. The partnership aims to leverage OIL's energy sector expertise and RVUNL's experience in power project development to deliver sustainable energy solutions, focusing on solar, wind, green hydrogen, and other renewable initiatives.

This venture will supply clean power to distribution companies (DISCOMs) and commercial customers, aligning with OIL’s goal of achieving net-zero carbon emissions by 2040. Oil India has also established a wholly owned subsidiary, OIL Green Energy Limited (OGEL), to drive its clean energy strategy in renewables, compressed biogas (CBG), energy storage, and green hydrogen.