IGL and RVUNL Sign JV Agreement to Develop 500 MW Solar Power Plant in Rajasthan
Indraprastha Gas Ltd. (IGL) and Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) have formed a joint venture to develop large-scale solar projects in Rajasthan, starting with a 500 MW plant.
September 02, 2025. By Mrinmoy Dey
The agreement was signed in Jaipur by Mohit Bhatia, Director (Commercial), IGL, and Devendra Shringi, Chairman and Managing Director, RVUNL, in the presence of Ajitabh Sharma, Principal Secretary, Department of Energy, Government of Rajasthan, Kamal Kishore Chatiwal, Managing Director, IGL, and senior officials from IGL and RVUNL.
Under the agreement, IGL will hold a 74 percent stake in the JV company, while RVUNL will own the remaining 26 percent. The JV company’s board will comprise six directors, including four nominees from IGL and two from RVUNL.
In April 2025, IGL’s board approved an equity investment of approximately INR 382 crore for setting up the 500 MW solar plant.
“This strategic initiative aligns seamlessly with IGL’s mission to diversify its portfolio and spearhead the transition to clean energy towards the achievement of its net-zero targets. Recognising the paramount significance of renewable energy, the company has formally identified renewable energy as a pivotal business segment in its recently rolled out diversification strategy,” the company stated in an earlier regulatory filing.
It further added that the estimated capital outlay for the project is about INR 2,066 crore and will be funded through a mix of debt and equity infusion. The project is estimated to be completed in 18 months.
IGL aims to develop a renewable energy portfolio of 2 GW by 2030.
please contact: contact@energetica-india.net.
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