Oil India Ltd. Forms Joint Venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited and Transfers Renewable Energy Assets

In a recent Board Meeting, Oil India Ltd. approved the formation of a joint venture company with Rajasthan Rajya Vidyut Utpadan Nigam Limited, each holding 50% equity. Additionally, the company decided to transfer its renewable energy (RE) assets to its wholly-owned subsidiary, OIL Green Energy Limited, at the book value of the respective assets on the closing date of the Power Purchase Agreements, as per the provisions of the Business Transfer Agreement.