OIL signed JVA with Assam Power Generation Corporation Ltd to work together in Renewable / Green Energy Business

Oil India Limited (OIL) signed a Joint Venture Agreement (JVA) with Assam Power Generation Corporation Ltd. (APGCL), a State Public Sector Enterprise of Assam, mainly responsible for maximizing energy generation to meet the energy demand and committed to achieve maximum renewable power generation in the state, on 8th of January, 2024 at Guwahati in order to boost India's efforts towards energy transition and for achieving OIL's target for net zero by 2040. OIL already established 188.1 MW of renewable energy plants across Rajasthan, Gujarat and Madhya Pradesh.

The JVA was executed by Shri Biswabrata Lahkar, Executive Director (Business Development) on behalf of OIL and Shri Bibhu Bhuyan, Managing Director on behalf of APGCL in presence of Chairman, APGCL and other senior officials of OIL and APGCL.

Shares of Oil India Limited was last trading in BSE at Rs. 374.05 as compared to the previous close of Rs. 380.75. The total number of shares traded during the day was 154291 in over 3636 trades.

The stock hit an intraday high of Rs. 382.00 and intraday low of 373.00. The net turnover during the day was Rs. 58079342.00.

Source : Equity Bulls

Keywords

OilIndia INE274J01014 JVAgreement AssamPowerGenerationCorporation