Oil India incorporates wholly-owned subsidiary for green energy business
The new subsidiary aims to explore energy generation from non-conventional and renewable sources, including wind, hydro, solar, tidal, geothermal, biomass, steam, wave, waste, hybrid, or any other method.
Oil India incorporates wholly-owned subsidiary for green energy business
State-owned Oil India Limited (OIL) has established a wholly-owned subsidiary called OIL Green Energy Limited to pursue renewable and non-conventional energy initiatives. In a regulatory filing to the stock exchanges on Friday, OIL announced, "We would like to inform you that OIL Green Energy Limited was incorporated on January 31, 2025, as a wholly-owned subsidiary of Oil India Limited."
The new subsidiary aims to explore energy generation from non-conventional and renewable sources, including wind, hydro, solar, tidal, geothermal, biomass, steam, wave, waste, hybrid, or any other method.
OIL received approval for this initiative from the Ministry of Petroleum and Natural Gas, the Department of Investment and Public Asset Management (DIPAM), and Niti Aayog in September 2024.
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