Oil India (OIL) is venturing into green and alternative energy by establishing a wholly-owned subsidiary, OIL Green Energy. The company plans to invest Rs 25,000 crore by 2040 to diversify its portfolio into renewable energy and decarbonisation technologies. OIL Green Energy will manage initiatives in biofuels, green hydrogen, renewable energy, CCUS, methanol, and geothermal energy. The company aims to have non-fossil fuel energy account for 12-15% of its total energy mix by 2040. Presently, OIL has 188.1 MW of installed renewable energy capacity through wind and solar power projects in states like Rajasthan, Gujarat, and Assam. These projects have brought significant investments and revenue. Additionally, OIL is leading in green hydrogen technology by establishing an AEM green hydrogen plant and planning 25 CBG plants across India. The move aligns with the company's vision to transition into a diversified energy player as recommended in the 21st report by the Committee on Public Undertakings.