Oil India (NSE:OIL, BOM:533106) said Saturday it has formed a joint venture with Assam Power Generation Corporation, named APGCL OIL Green Power, to develop and operate renewable energy projects, according to a same-day filing with the Indian bourses.
Oil India has subscribed to a 49% stake in the JV, acquiring 100,000 shares at 10 Indian rupees each.
The JV will focus on solar, small hydro, hydrogen-based, wind, and biomass projects, along with green hydrogen infrastructure, according to the filing.
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