Oil India share price jumped over 3% as the market opened on Monday after its wholly owned subsidiary, OIL Green Energy Ltd., signed Memorandum of Understanding with the Haryana government for four integrated waste-to-clean-energy projects. The PSU stock rose as much as 3.55% to Rs 500 apiece on the NSE.
Investors will be looking at how the proposed projects could strengthen Oil India's low-carbon energy portfolio and create a new growth avenue through waste-to-clean-energy initiatives.
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Four Waste-To-Energy Projects
The proposed facilities will have waste-processing capacities of 500 TPD in Hisar, 900 TPD in Ambala, 1,600 TPD in Faridabad, and 2,000 TPD in Gurugram, a total of 5,000 TPD.
Under the integrated model, municipal waste will first undergo scientific pre-processing and segregation. Recyclable material will be recovered, while the wet and biodegradable portion will be used to produce CBG. The non-recyclable dry waste will be used for electricity generation through waste-to-energy facilities.
Around 70-75 TPD of compressed biogas will be produced along with 50 MW of green power across the facilities.
Expansion Into Low-Carbon Energy
The initiative is expected to reduce dependence on landfilling while improving resource and energy recovery from municipal waste. The projects also align with the government's GOBARdhan – National Circular Bioenergy Scheme 2026, according to the company.
For Oil India, the collaboration marks a step towards expanding its low-carbon energy portfolio through OGEL and developing integrated waste-to-clean-energy solutions at scale.
Oil India Share Price Performance
Oil India stock price has gained more than 25% over a year, and has jumped by a staggering 302% over the past five years. In the past month, the stock rose by close to 7%, including today's gains.
Currently, the stock is trading at a price-to-earnings multiple of 8.24 times, with a market cap of Rs 79,232.07 crore.
Also Read: Oil India Share Price Target Raised by ICICI Securities; Stock Remains Top Pick — Here's Why
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