Oil India & RVUNL Form Joint Venture To Develop 1.2 GW Renewable Energy Projects In Rajasthan

(MENAFN- KNN India) Jaipur, Sep 20 (KNN) State-owned Oil India Limited (OIL) has signed a Joint Venture Agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to develop 1.2 GW of renewable energy projects in Rajasthan, the company announced on Friday.

The projects include 1,000 MW of solar power and 200 MW of wind power to be established within RVUNL's Renewable Energy Park.

The joint venture will combine OIL's expertise in the energy sector 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 agreement was signed by Devendra Shringi, Chairman & Managing Director, RVUNL, and Ranjan Goswami, Executive Director (Business Development), OIL.

This announcement comes alongside another pact signed by OIL on Friday with Hindustan Copper Limited (HCL) for the exploration and development of critical and strategic minerals, including copper and associated resources.

OIL has expanded its portfolio beyond oil and gas, engaging in mining, production, processing, and marketing of copper. The company described the partnership with HCL as a milestone in India's pursuit of self-reliance in critical and strategic minerals.

Oil India has also established a wholly owned subsidiary, OIL Green Energy Limited (OGEL), to drive its clean energy strategy. Under OGEL, the company has built a diversified portfolio across renewables, compressed biogas (CBG), energy storage, and green hydrogen.

(KNN Bureau)

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