ARTICLE AD BOX
New Delhi: Natural Gas PSU GAIL India will remain in focus today as it looks to transition to a ‘net zero’ future through its investments in renewable energy. The Maharatna PSU has announced an investment of ₹3,800 crore to develop 700 MW of solar power capacity in Uttar Pradesh and Maharashtra as a hedge against fluctuating fossil fuel prices.
Cost Efficiencies through Captive Consumption
These investments are part of GAIL’s objective of boosting captive consumption as it looks to lower its carbon footprint to achieve Net Zero operational emissions by 2040.
GAIL aims to develop a 600MW solar power project along with a 550 MWh Battery Energy Storage System (BESS) at TUSCO Solar Park Jhansi in Uttar Pradesh. Along with this, it will set up another 100MW project along with a 22 MWh BESS in Chhatrapati Sambhaji Nagar district in Maharashtra. These projects will serve the captive requirements of its Auraiya Petrochemical plant and its Usar PDH-PPP plant, respectively.
“GAIL’s installed renewable energy capacity shall increase substantially to over 1,000 MW from the current 147 MW upon commissioning of these projects.” Shri Deepak Gupta, Chairman & Managing Director, GAIL, said in a press release to the bourses. The projects are aimed at reinforcing GAIL’s role in driving India’s energy transition and boosting its position as an integrated energy major with a balanced portfolio of conventional and green energy assets.
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