GAIL (India) Limited has informed the Exchange about Disclosure of event or information under Regulation 30 of SEBI LODR Regulations, 2015.
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GAIL (India) Limited has signed a 50:50 Joint Venture Agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) on 29 July 2025. Through this JV, the two companies plan to transfer existing gas-based power plants in Rajasthan — 330 MW in Dholpur and 270.5 MW in Ramgarh — to the new joint venture company, subject to satisfactory due diligence by GAIL. The JV will also set up around 750 MW of solar power projects and around 250 MW of wind power projects in Rajasthan, bundling renewable energy with the existing gas-based generation. RVUNL will first incorporate a 100% subsidiary that becomes the JVC once GAIL invests. Both partners will nominate 3 directors each to the JVC board, with a 5-year lock-in period and mutual Right of First Refusal on equity transfers.
This is a positive, expansion-oriented move for GAIL, giving it a clear pipeline of roughly 1,000 MW of renewable energy capacity (solar + wind) alongside ownership of operational gas-based assets. For shareholders, it signals GAIL's diversification into clean energy and supports long-term growth, though actual value creation depends on deal completion, regulatory approvals, and the financial terms of GAIL's equity infusion into the JVC.