OIL Green Energy and Hindustan Waste Treatment sign bioenergy joint venture

OIL Green Energy Ltd., a subsidiary of Maharatna CPSE Oil India Limited, has signed a Joint Venture Agreement with Hindustan Waste Treatment Pvt. Ltd. to develop integrated bioenergy and sustainable waste management projects in India. The partnership targets bioenergy generation alongside sustainable resource recovery.

OIL Green Energy Ltd. (OGEL), the wholly owned clean energy subsidiary of Oil India Limited (OIL) — a Maharatna Central Public Sector Enterprise under the Ministry of Petroleum and Natural Gas — has entered into a formal Joint Venture Agreement with Hindustan Waste Treatment Pvt. Ltd. (HWT), a wholly owned subsidiary of SFC Environmental Technologies Ltd. The agreement was signed on May 27, 2026, and disclosed pursuant to Regulation 30 of SEBI's LODR Regulations, 2015.

The joint venture is structured to collaborate on the development of integrated bioenergy projects and sustainable waste management solutions across India. HWT brings specialised expertise in waste treatment and environmental services, while OGEL contributes Oil India's capital resources and energy sector credentials. Together, the partners aim to develop projects that convert waste streams into usable energy, supporting India's push for a circular economy and reducing reliance on fossil fuels in the energy mix.

This JVA carries strong ESG significance on multiple fronts. For Oil India, a state-owned petroleum enterprise, the bioenergy venture represents a strategic diversification into green energy — directly aligned with India's net-zero commitments and the government's renewable energy targets. Sustainable waste management addresses the environmental pillar by diverting waste from landfills, while the governance structure of a formal JVA with a specialised environmental firm demonstrates accountability and strategic intent in Oil India's energy transition roadmap.

Key figure — May 27, 2026 (JVA signing date)