OIL signs a joint venture agreement with RVUNL to establish renewable power projects in Rajasthan

On September 19, 2025, a Joint Venture Agreement was signed in Jaipur between Oil India Limited (OIL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL). According to reports, the agreement established a joint venture company with the purpose of developing renewable power projects within the state of Rajasthan.

The planned capacity for these projects was reported to be 1.2 gigawatts, comprising 1,000 megawatts of solar power and 200 megawatts of wind power. It was indicated that all projects would be developed within RVUNL’s dedicated Renewable Energy Park in the state.

Read More About Green Hydrogen Production Cost Reports - Request Free Sample Copy in PDF

The agreement was signed by senior officials from both organizations. It was noted that Ajitabh Sharma, the Principal Secretary for Energy in Rajasthan, and Trailukya Borgohain, Director of Operations at OIL, were also present at the ceremony to witness the signing.

The newly formed company would be responsible for developing the solar and wind projects, and it was suggested that it might also expand into areas such as green hydrogen and other related renewable energy fields. The power generated by these projects was planned for supply to state distribution companies as well as commercial consumers.

It was further mentioned that OIL operates a separate subsidiary named OIL Green Energy Limited, which manages its portfolio of clean energy projects. This subsidiary is active in sectors including renewable power, compressed biogas, and green hydrogen, supporting OIL’s broader target of achieving net-zero carbon emissions by 2040.