GAIL (India) Limited has informed the Exchange about SETTING-UP OF A GREENFIELD 178.2 MW WIND PROJECT IN MAHARASHTRA
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GAIL (India) Limited's Board has approved the setting up of a new 178.2 MW greenfield wind energy project in Maharashtra. This will add to the company's existing wind capacity of 117.95 MW, which is currently running at full utilization. The project will require an investment of INR 1,736.25 Crores, to be funded through a mix of debt and equity. The capacity addition is targeted within 24 months from the date of award of the Lump Sum Turnkey (LSTK) contract. The rationale cited by the company is business growth, aligning with its broader push into renewable energy.
This is a positive development for shareholders, as it represents a meaningful step in GAIL's renewable energy expansion and diversification beyond its core gas business. The sizeable investment signals management's commitment to clean energy, though execution risk and capex absorption will be key things to watch over the next two years.