Indraprastha Gas Limited (IGL), India’s leading City Gas Distribution company, and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), the state-owned power generation utility, have signed a Joint Venture Agreement (JVA) to set up large-scale solar projects in Rajasthan.
Mr. Mohit Bhatia, Director (Commercial), IGL and Mr. Devendra Shringi, Chairman & Managing Director, RVUNL, in the presence of Mr. Ajitabh Sharma, Principal Secretary, Department of Energy, Government of Rajasthan, Mr. Kamal Kishore Chatiwal, Managing Director, IGL, along with senior officials of both organizations.
- Initial Project: A 500 MW solar power plant in Rajasthan.
- Equity Structure: 74% stake held by IGL and 26% by RVUNL.
- Board Composition: Six members – four from IGL and two from RVUNL.
Mr. Kamal Kishore Chatiwal, MD, IGL, said: “This JV marks a major milestone in IGL’s journey towards net zero and diversification into renewable energy. By leveraging Rajasthan’s high solar potential, we aim to strengthen our green energy portfolio aligned with India’s 500 GW renewable energy target for 2030, with a long-term goal of up to 2 GW.”
Mr. Mohit Bhatia, Director (Commercial), IGL, “This collaboration with RVUNL provides a strong platform for IGL to expand into renewables. The JV will contribute to India’s clean energy transition while creating long-term value for stakeholders.”
