GAIL to Invest Rs 3,800 Crore in 700 MW Solar Projects in Uttar Pradesh and Maharashtra
GAIL (India) Limited Announces Major Renewable Energy Investment
Shares of GAIL (India) Limited rose in trade on Wednesday, April 16, after the company announced a significant investment in renewable energy projects across Uttar Pradesh and Maharashtra.
The stock was trading at Rs 156.28, up Rs 2.57 or 1.67 percent on the NSE. This development comes as part of GAIL's broader strategy to align growth with environmental responsibility while ensuring long-term energy security.
In a regulatory filing, the Maharatna PSU has approved setting up 700 MW of solar power projects with a total investment of Rs 3,800 crore across the two states. As part of the plan, GAIL will develop a 600 MW solar power project along with a 550 MWh Battery Energy Storage System (BESS) at TUSCO Solar Park in Uttar Pradesh's Jhansi.
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TUSCO Solar Park Project Details
| Project Location | Capacity (MW) | BESS Capacity (MWh) |
|---|---|---|
| TUSCO Solar Park, Jhansi, UP | 600 | 550 |
The project will primarily cater to the captive energy needs of its petrochemical plant at Pata in UP’s Auraiya district. Additionally, the company will set up a 100 MW solar power project with a 22 MWh BESS in Chhatrapati Sambhaji Nagar district (formerly Aurangabad) in Maharashtra. This facility will serve the captive requirements of GAIL's PDH-PP plant at Usar in Raigad district.
The company said these projects mark a key step in its journey towards achieving net-zero targets, aligned with India's broader energy transition goals. The integration of energy storage systems is expected to help address intermittency challenges and enable round-the-clock renewable power supply.
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According to the company's CMD, Deepak Gupta, GAIL's installed renewable energy capacity shall increase substantially to over 1,000 MW from the current 147 MW upon commissioning of these projects. This significant expansion reflects the company's commitment to environmental responsibility and long-term energy security.
Investor Takeaway
Investors should consider the potential benefits of renewable energy investments for companies like GAIL.
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