GAIL to set up 600 MW Solar Power Project in UP

GAIL (India) Limited, India's integrated energy major, today signed contract agreements with M/s TUSCO Limited for setting up of 600 MW of solar power project at TUSCO's Solar Park located at Jhansi in Uttar Pradesh. The contract agreements were signed by Shri Parivesh Chugh, Executive Director (SD & Renewables), GAIL (India) Limited and Shri Anil Tyagi, CEO, TUSCO Ltd. in the presence of Shri R K Singhal, Director (Business Development), GAIL (India) Limited, Shri Neeraj Verma, Executive Director, THDC and other senior officials from both the companies.

The solar power project will be set up along with a 550 MWh Battery Energy Storage System (BESS). The projects will primarily cater to meet the captive energy requirements of GAIL's Petrochemical Plant at Pata in Auraiya district of Uttar Pradesh, besides meeting the additional demand arising from Electrification of Gas-based equipment and CBG plants, which are being set-up in Uttar Pradesh.

Speaking on the occasion, Shri R K Singhal, Director (Business Development), GAIL (India) Limited, said, "This solar project reflects GAIL's commitment for diversifying into low-carbon and sustainable energy solutions." He further emphasized that the project also underscores GAIL's commitment to expand its business footprint in U.P.

Shares of GAIL (India) Limited was last trading in BSE at Rs. 156.15 as compared to the previous close of Rs. 153.65. The total number of shares traded during the day was 305854 in over 4046 trades.

The stock hit an intraday high of Rs. 157.40 and intraday low of 155.10. The net turnover during the day was Rs. 47804169.00.

Source : Equity Bulls

Keywords

GAILIndia INE129A01019 600MW SolarPowerProject UP