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Oil India Ltd's wholly owned subsidiary OIL Green Energy Ltd (OGEL) has signed a joint venture agreement with Hindustan Waste Treatment Pvt Ltd (HWT) to develop bioenergy and sustainable waste management projects in India, according to a stock exchange filing by the company.
"OGEL, a wholly owned subsidiary of Oil India Limited (OIL)... and Hindustan Waste Treatment Pvt. Ltd. (HWT)... have signed a Joint Venture Agreement (JVA) to collaborate in the development of integrated bioenergy and sustainable waste management projects in India," the company said. The partnership envisages the formation of a 50:50 joint venture company to pursue opportunities in compressed biogas (CBG), waste-to-energy and allied sustainable infrastructure projects aligned with India's clean energy transition and circular economy objectives, Oil India said in its release. Oil India said OGEL was established to drive the company's strategic initiatives in renewable and green energy sectors, including CBG and other emerging clean energy opportunities. The proposed joint venture will explore opportunities in CBG, integrated waste-to-energy and sustainable resource recovery projects across suitable geographies in India, the release stated. Hindustan Waste Treatment Pvt Ltd, a wholly owned subsidiary of SFC Environmental Technologies Ltd, is a technology-driven company in the biogas sector with expertise in design, engineering, construction, commissioning, operations and maintenance of municipal solid waste-based bioenergy projects. According to the release, the company has deployed and operated advanced global technologies in India, including a municipal solid waste-based biogas plant in North Goa that has been operational for more than a decade. "Representatives from both organisations expressed confidence that the collaboration would contribute towards India's vision of Atmanirbharta and energy self-reliance," the company said. The partnership aims to combine OGEL's energy sector experience with HWT's technological and operational capabilities in the municipal solid waste-based bioenergy sector to support scalable and sustainable clean energy solutions in India, the release added. (ANI)
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