Oil India forms wholly-owned subsidiary for green energy business

New Delhi: State-run Oil India Limited (OIL) has incorporated a wholly-owned subsidiary company, OIL Green Energy Limited, for pursuing renewable and non-conventional energy business. In a regulatory filing to the stock exchanges on Friday, OIL said, "... we would like to inform that "OlL GREEN ENERGY LIMITED" has been incorporated on 31 .01.2025 as a Wholly Owned Subsidiary of Oil lndia Limited."

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The new subsidiary's objective is to pursue "Energy generation through non-conventional/renewable sources in all its aspects, including wind, hydro, solar, tidal, geothermal, biomass, steam, wave, waste, hybrid or any other form," said OIL.

Oil India had received approval 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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