IGL Board Approves INR 382 Crore Equity Investment for 500 MWp Solar Project in Rajasthan
Indraprastha Gas Ltd. (IGL) has approved an INR 382 crore equity investment for a 500 MWp solar plant in Rajasthan, developed through a JV with RVUNL as part of its renewable energy expansion strategy.
April 03, 2025. By Mrinmoy Dey
The project will be set up through a joint venture (JV) with Rajasthan Rajya Vidyut Utpadan Nigam Ltd. (RVUNL), the company stated in an exchange filing.
In the JV company, IGL will hold 74 percent stake and RVUNL will hold 26 percent stake. The initiative aims to strengthen India’s renewable energy sector and reduce dependence on fossil fuels.
The solar plant will be developed within RVUNL’s upcoming solar park in Bikaner, with RVUNL facilitating power transmission.
“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.
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 1 GW within the next 2-4 years.
please contact: contact@energetica-india.net.
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