New Delhi: State-run Oil India Limited (OIL) has officially incorporated a new wholly-owned subsidiary, OIL Green Energy Limited, to focus on the business of renewable and non-conventional energy. The announcement was made through a regulatory filing to the stock exchanges on Friday.
According to the filing, OIL informed that OIL Green Energy Limited was incorporated on January 31, 2025, with the objective of pursuing energy generation through various non-conventional and renewable sources. The subsidiary will explore all forms of renewable energy, including wind, hydro, solar, tidal, geothermal, biomass, steam, wave, waste, and hybrid energy, or any other form of sustainable energy.
The establishment of this subsidiary comes after OIL received approval from key government bodies, including the Ministry of Petroleum and Natural Gas, the Department of Investment and Public Asset Management (DIPAM), and Niti Aayog in September 2024.
With this strategic move, OIL is stepping up its efforts to diversify its energy portfolio and contribute to the country’s growing focus on renewable energy solutions. The formation of OIL Green Energy Limited is in line with India’s commitment to clean energy and sustainability.
