Oil India Limited (OIL) has 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 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.

The company has already established 188.1 MW of renewable energy plants across Rajasthan, Gujarat, and Madhya Pradesh.

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