State-Owned Energy Sector Major GAIL Lines Up Rs 5,000 Crore Investments For Renewable And Clean Energy

State-owned gas sector heavyweight Gas Authority of India Limited (GAIL) plans to invest Rs 5,000 crore in renewable and cleaner energy opportunities, reports The Times of India.

GAIL will be investing Rs 1,000 crore to set up two plants each to produce ethanol and compressed biogas (CBG) from municipal waste. The CBG produced in this way will add volumes to its pipeline network as it expands city gas distribution service across the country.

Meanwhile, GAIL will invest another Rs 4,000 crore in expanding its renewable energy capacity from 120 megawatts (MWs) to a gigawatt (GW) in the next three-four years. In this direction, GAIL will also bid for a 400 MW solar power project being auctioned by the Solar Energy Corporation of India (SECI) at Madhya Pradesh's Rewa.

GAIL has also joined hands with state-owned power gear maker BHEL for its renewables play.