IGL's Strategic Move into Renewable Energy

Indraprastha Gas Ltd (IGL), known as Delhi's sole supplier of CNG and PNG, is making a significant leap into the renewable energy sector. The company has announced a Rs 2,066 crore investment to establish a five-megawatt solar power project in Bikaner, Rajasthan. This initiative marks a pivotal step in IGL's mission to diversify its energy portfolio and contribute to India's clean energy transition.

Joint Venture with Rajasthan Vidyut Utpadan Nigam Ltd

The project will be developed through a joint venture, with IGL holding a 74% equity stake and Rajasthan Vidyut Utpadan Nigam Ltd (RVUNL) retaining the remaining 26%. RVUNL will provide the necessary land within its upcoming solar park and ensure the seamless evacuation of power. The collaboration underscores the shared commitment of both entities towards sustainable energy development.

Financing and Project Timeline

Funding for the solar project will be sourced through a combination of debt and equity. The ambitious project is expected to be completed within 18 months following the formalization of the joint venture agreement. This timeline reflects the urgency and importance IGL places on expanding its footprint in the renewable energy sector.

Aligning with Net-Zero Goals

Describing the initiative as a "defining moment", IGL emphasized its alignment with the company's broader strategy to achieve net-zero emissions. Renewable energy is set to become a cornerstone of IGL's business model, showcasing its dedication to environmental stewardship and innovation in energy solutions.

IGL's Leadership in the Energy Sector

As India's largest city gas distribution company, IGL manages approximately 10 MMSCMD of gas daily. The company's foray into solar energy is a testament to its commitment to enhancing India's energy infrastructure and promoting sustainable development. Through strategic investments and partnerships, IGL continues to solidify its position as a leader in the energy sector.