Oil India Limited (OIL) has entered into a joint venture agreement (JVA) with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to establish a Joint Venture Company (JVC) aimed at developing 1.2 gigawatts (GW) of renewable energy in Rajasthan.
Project Overview
The renewable energy project will comprise:
- 1,000 MW of solar power
- 200 MW of wind energy
These installations will be developed within RVUNL’s Renewable Energy Park, creating a comprehensive clean energy hub in the state.
The agreement was signed in Jaipur by RVUNL Chairman & MD Devendra Shringi and OIL Executive Director (Business Development) Ranjan Goswami, in the presence of Rajasthan Principal Secretary (Energy) Ajitabh Sharma and OIL Director (Operations) Trailukya Borgohain.
Strategic Collaboration
- OIL India, a Maharatna CPSU under the Ministry of Petroleum & Natural Gas, will contribute its sectoral expertise in energy project development.
- RVUNL, a state-owned power utility, brings its experience in power project execution and management.
The JVC will also explore solar, wind, green hydrogen, and other clean energy solutions, supplying power to distribution companies (DISCOMs) and commercial consumers.
To drive its renewable initiatives, OIL has established OIL Green Energy Limited (OGEL), a wholly owned subsidiary focused on renewables, compressed biogas, energy storage, and green hydrogen.
Strategic Significance
This partnership represents a major milestone in India’s green energy transition and is aligned with OIL’s goal of achieving net-zero carbon emissions by 2040 while delivering sustainable returns. By combining expertise in hydrocarbons and renewable energy, the project is expected to strengthen Rajasthan’s renewable energy ecosystem, promote clean power adoption, and contribute to the nation’s energy security and sustainability objectives.
Summary
- Project Capacity: 1.2 GW (1,000 MW solar + 200 MW wind)
- Location: RVUNL Renewable Energy Park, Rajasthan
- Collaborators: OIL India Limited & RVUNL
- Strategic Goals: Net-zero carbon by 2040, enhanced renewable energy supply, clean energy adoption
- Future Scope: Expansion into green hydrogen, energy storage, and commercial clean energy solutions
The OIL-RVUNL collaboration underscores India’s commitment to renewable energy growth and highlights the synergy between central and state PSUs in advancing the nation’s clean energy transition.
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