GAIL forms 50:50 Joint Venture with RVUNL for gas-based and 1000 MW renewable power projects in Rajasthan
The agreement involves a substantial investment and strategic move into both gas-based and large-scale renewable energy generation (totaling 1000 MW of new renewable capacity). This partnership with a state entity (RVUNL) is significant for GAIL's long-term business strategy and energy portfolio.
The formation of a 50:50 joint venture to acquire existing gas-based power assets and develop significant new renewable energy capacity (750 MW solar and 250 MW wind) in Rajasthan represents a strategic expansion and diversification into the green energy sector for GAIL, indicating future growth potential.
* GAIL (India) Limited (GAIL) has executed a Joint Venture Agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) on 29 July 2025. * The purpose of the agreement is to: * Transfer existing gas-based power plants (330 MW in Dholpur and/or 270.5 MW in Ramgarh, Rajasthan) to the Joint Venture Company (JVC) upon satisfactory due diligence by GAIL. * Set up around 750 MW solar projects and around 250 MW wind power projects in Rajasthan through the JVC, complementing and bundling with the power from existing gas-based plants. * The shareholding in the JVC will be 50% for GAIL and 50% for RVUNL. * Key terms include: * RVUNL will incorporate a 100% subsidiary company, which will become the JVC after GAIL's investment. * Existing power plants will be transferred to the JVC through an Asset Transfer Agreement. * GAIL will invest in the JVC by share subscription or purchase after asset transfer and fulfillment of conditions precedent. * The initial authorized and paid-up share capital of the JVC will be ₹10,00,000, divided into equity shares of ₹10 each. * Both GAIL and RVUNL will have the Right of First Refusal in case of equity transfer to any third party. * The JVC Board will comprise 6 Directors, with 3 nominated by GAIL and 3 by RVUNL. * A lock-in period of 5 years from the date of JVC incorporation applies. * The parties involved are not related to the promoter/promoter group/group companies.
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GAIL (India) Limited filed this with the NSE as a statutory disclosure, categorised under strategic partnerships. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by GAIL (India) Limited. Read the original for the full detail.