Oil India Ltd and RVUNL Sign JVA for 1.2 GW Renewable Energy Projects in Rajasthan

Oil India Limited (OIL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) have signed a Joint Venture Agreement (JVA) to establish a Joint Venture Company (JVC) to develop 1.2 GW of renewable energy projects, comprising 1000 MW of solar and 200 MW of wind, within RVUNL’s Renewable Energy Park in Rajasthan. The JVC will harness OIL’s energy sector expertise and RVUNL’s extensive 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. This initiative aligns with OIL’s ambitious goal of achieving net-zero carbon emissions by 2040 while ensuring sustainable returns.