Oil India Limited, APGCL forge JV for renewable energy expansion

In a significant step towards India’s energy transition, Oil India Limited (OIL) signed a pivotal Joint Venture Agreement (JVA) with Assam Power Generation Corporation Ltd. (APGCL) on January 8, 2024, in Guwahati. This agreement marks a crucial move towards achieving OIL’s target of net zero emissions by 2040 and enhances the nation’s focus on renewable energy.

The JVA, aimed at maximizing renewable power generation in Assam, was executed by Biswabrata Lahkar, Executive Director (Business Development) of Oil India Limited, and Bibhu Bhuyan, Managing Director of APGCL. The ceremony was attended by the Chairman of APGCL and senior officials from both organizations, underlining the commitment to sustainable energy development in the region.

Oil India Limited has already established a strong presence in the renewable energy sector, with 188.1 MW of renewable energy plants across Rajasthan, Gujarat, and Madhya Pradesh. This new joint venture with APGCL is a continuation of OIL’s efforts to diversify its energy portfolio and contribute to India’s growing demand for sustainable energy sources.

The collaboration between OIL and APGCL is expected to play a vital role in Assam’s energy sector, focusing on maximizing energy generation to meet the state’s demand. It aligns with the broader goal of achieving maximum renewable power generation, thereby supporting India’s commitment to energy transition and sustainability.

The partnership between Oil India Limited and Assam Power Generation Corporation Ltd. represents a strategic step forward in India’s journey towards renewable energy and achieving its net zero targets. It exemplifies the collaborative efforts required to transition to a more sustainable energy future.