Oil India inks JV pact with RVUNL to construct RE projects.

Oil India announced that it has signed a joint venture (JV) agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to establish a joint venture company (JVC) for developing renewable energy (RE) projects in Rajasthan.

The JVC will develop 1.2 GW of renewable energy projects, comprising 1,000 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.

Oil India is engaged in exploration, development, and production of crude oil and natural gas, transportation of crude oil, and production of LPG. It also provides various exploration & production (E&P)-related services for oil blocks.

On consolidated basis, the company?s net profit rose 0.6% to Rs 1896.42 crore despite a 2.4% decline in net sales to Rs 7928.66 crore in Q1 FY26 over Q1 FY25.

The counter rose 1.24% to settle at Rs 404.15 on the BSE.

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