GAIL to Invest Rs 3800 Crore in 700 MW Solar Projects Across UP and Maharashtra
GAIL (India) Limited, a Government of India Undertaking and Maharatna Company, has announced a major investment plan to boost its renewable energy portfolio. The company has approved setting up 700 MW of solar power projects with a total investment of Rs 3800 crore in the states of Uttar Pradesh and Maharashtra.The solar initiative involves establishing two key facilities, designed to meet the captive energy requirements of GAIL’s operational plants.
The planned projects are detailed as follows:
| State | Capacity (Solar) | Storage System | Facility Details | Primary Purpose |
|---|---|---|---|---|
| Uttar Pradesh | 600 MW | 550 MWh BESS | TUSCO Solar Park Jhansi | Captive energy for Petrochemical Plant at Pata (Auraiya district) |
| Maharashtra | 100 MW | 22 MWh BESS | Chhatrapati Sambhaji Nagar district | Captive requirements for PDH-PP Plant at Usar (Raigad district) |
These new developments represent a significant stride for GAIL, reinforcing its commitment to achieving Net Zero targets and aligning with India’s broader energy transition objectives. The integration of advanced energy storage systems (BESS) will enhance the utilization of solar power by addressing intermittency challenges and ensuring round-the-clock availability of renewable energy.
Speaking on the announcement, Shri Deepak Gupta, Chairman & Managing Director of GAIL, emphasized the strategic importance of this expansion. He noted that upon the commissioning of these projects, GAIL's installed renewable energy capacity will increase substantially to over 1,000 MW from the current 147 MW.
This strategic expansion underscores GAIL’s vision of integrating environmental responsibility with growth, thereby strengthening its position as an integrated energy major. The projects are set to further reinforce GAIL's role in driving India's energy transition while maintaining a balanced portfolio of conventional and green energy assets.
Stock Price Movement
As of 10:54, shares of Gail (India) Ltd are edging higher, trading at ₹156.00, representing a 1.53% gain for the day. Throughout the session, the stock has exhibited movement, fluctuating between an intraday low of ₹155.10 and a high of ₹157.40.Source:
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