GAIL to invest Rs. 3800 crore in 700 MW Solar Power Projects in UP and Maharashtra

GAIL (India) Limited has approved setting up of 700 MW of solar power projects with an investment of Rs 3800 crore in the states of Uttar Pradesh and Maharashtra.

As part of this initiative, GAIL will develop a 600 MW Solar Power Project along with a 550 MWh Battery Energy Storage System (BESS) at TUSCO Solar Park Jhansi in Uttar Pradesh. The project will primarily cater to the captive energy requirements of GAIL's Petrochemical Plant at Pata in Auraiya district.

In addition, 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 mainly serve the captive requirements of GAIL's PDH-PP Plant at Usar in Raigad district.

These projects mark a significant milestone in GAIL's journey towards achieving its Net Zero targets, aligned with India's broader energy transition goals. Further, the integration of advanced energy storage systems will ensure efficient utilization of solar power by addressing intermittency challenges and enabling round-the-clock availability of Renewable Energy.

Speaking on the occasion, Shri Deepak Gupta, Chairman & Managing Director, said, "GAIL's installed renewable energy capacity shall increase substantially to over 1,000 MW from the current 147 MW upon commissioning of these projects."

He further emphasized that this expansion underscores GAIL's strategic vision of aligning its growth trajectory with environmental responsibility while ensuring long-term energy security.

These projects further reinforce GAIL's role in driving India's energy transition and strengthen its position as an integrated energy major with a balanced portfolio of conventional and green energy assets.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 153.65 as compared to the previous close of Rs. 154.05. The total number of shares traded during the day was 318221 in over 4139 trades.

The stock hit an intraday high of Rs. 154.30 and intraday low of 149.40. The net turnover during the day was Rs. 48496246.00.

Source : Equity Bulls

Keywords

GAILIndia INE129A01019 700MW SolarPowerProjects UP Maharashtra