OIL India Limited and RVUNL Join Hands to Develop 1.2 GW Renewable Energy in Rajasthan
The project will comprise 1,000 MW of solar power and 200 MW of wind energy, to be developed within RVUNL’s Renewable Energy Park in the state
By Bula Devi
Oil India Limited (OIL) has entered into a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to set up a Joint Venture Company (JVC) for developing 1.2 gigawatt (GW) of renewable energy capacity in Rajasthan.
The project will comprise 1,000 MW of solar power and 200 MW of wind energy, to be developed within RVUNL’s Renewable Energy Park in the state.
The agreement was signed in Jaipur on Friday by RVUNL Chairman and Managing Director Devendra Shringi and OIL’s Executive Director (Business Development) Ranjan Goswami, in the presence of Rajasthan’s Principal Secretary (Energy) Ajitabh Sharma and OIL’s Director (Operations) Trailukya Borgohain.
OIL, a Maharatna CPSU, under the Ministry of Petroleum & Natural Gas, will bring its sectoral expertise, while RVUNL, a Rajasthan state PSU, will contribute its vast experience in power project development. The JVC will also explore solar, wind, green hydrogen, and other clean energy solutions, with supply to distribution companies (DISCOMs) and commercial consumers.
To support its clean energy strategy, OIL India Limited has set up OIL Green Energy Limited (OGEL), a wholly owned subsidiary driving initiatives in renewables, compressed biogas, energy storage, and green hydrogen.
“This initiative aligns with OIL’s ambitious goal of achieving net-zero carbon emissions by 2040 while delivering sustainable returns,” the company said in its press release.
The collaboration marks a significant step in advancing India’s green energy transition, strengthening the renewable energy ecosystem, and moving closer to the nation’s clean energy targets.
