OIL India, RVUNL Sign JVA for 1.2 GW Renewable Projects in Rajasthan

Oil India Limited (OIL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) have signed a Joint Venture Agreement (JVA) in Jaipur on September 19, 2025. Reports indicate that the agreement sets up a joint venture company for developing renewable power projects in Rajasthan.

Project Size and Location

The planned capacity under the JVA is 1.2 gigawatts (GW). It will consist of 1,000 megawatts (MW) of solar power and 200 MW of wind power. All projects will be set up in RVUNL’s Renewable Energy Park in Rajasthan.

Officials at the Event

The signing was done by Devendra Shringi, Chairman and Managing Director of RVUNL, and Ranjan Goswami, Executive Director (Business Development) of OIL. Ajitabh Sharma, Principal Secretary for Energy in Rajasthan, and Trailukya Borgohain, Director (Operations) of OIL, were also present.

Power Supply Plans

The joint venture company will handle solar and wind projects, and may also take up green hydrogen and related renewable energy areas. The generated power is planned for supply to state distribution companies (DISCOMs) and commercial users.

OIL’s Renewable Unit

OIL has a separate subsidiary, OIL Green Energy Limited (OGEL), which manages its clean energy projects. OGEL works in areas such as renewable power, compressed biogas, energy storage, and green hydrogen. OIL has set a target of achieving net-zero carbon emissions by 2040.

Oil India Share Price Performance

As of September 22, 2025, 10:22 AM, Oil India share price was trading at ₹406.85, a 0.69% increase from the previous closing price.

Read more: Indraprastha Gas Limited Forms Joint Venture with RVUNL for Solar Project!

Conclusion

The JVA adds 1.2 GW of renewable energy projects to Rajasthan’s power sector. It is one among several steps being taken by public sector companies to expand renewable capacity in India.

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