New Delhi: Diversifying its operations, the board of state-run city gas major Indraprastha Gas Ltd (IGL) has approved the setting up of a joint venture with Rajasthan Vidyut Utpadan Nigam Ltd (RVUNL) to develop a 500-megawatt-peak (MWp) solar power project.With this, IGL has announced its foray into the renewable energy space.”This strategic initiative aligns seamlessly with IGL’s mission to diversify its portfolio and spearhead the transition to clean energy towards achievement of its net zero targets. Recognizing the paramount significance of renewable energy, the company has formally identified renewable energy as a pivotal business segment in its recently rolled out diversification strategy,” said a statement from IGL on Monday.The 500 MWp greenfield solar power plant is proposed to be set up in Bikaner district of Rajasthan. IGL will have 74% stake in the JV while Rajasthan government-owned RUVNL will hold the remaining 26%. RVUNL will provide the JV with land in its upcoming solar park and facilitate seamless power evacuation, ensuring an efficient and streamlined execution of the project, the statement said.With an estimated capital outlay of ₹2,066 crore, the project will be financed through a mix of debt and equity and is slated for completion within 18 months from the formalization of the joint venture.The proposal to set up the JV is under approval of Rajasthan state cabinet. Once approved, the JV formation and project implementation activities will start.With this entry in the renewable energy space, the city gas distribution major aims to develop 1 GW green energy portfolio within the next two to four years.State-run Bharat Petroleum Corporation Ltd and GAIL (India) Ltd own 22.5% stake each in the company. IGL currently handles approximately 10 MMSCMD (Million Metric Standard Cubic Meters Per Day) of gas. Incorporated in 1988, IGL took over the Delhi City Gas Distribution Project in 1999 from GAIL (India) Limited to lay the network for the distribution of natural gas in the National Capital Territory of Delhi to consumers in the domestic, transport, and commercial sectors.Also read | Insurance surety bonds may be added as guarantee for city gas projectsIt has since expanded its operations and on the piped natural gas (PNG) front, IGL is already operating in Uttar Pradesh, Haryana and Rajasthan apart from NCR.In terms of energy transition, the company has already entered the compressed biogas segment. Its current market capitalization stands at ₹28,378.03 crore. in a formal or creative style for better SEO.Also Exclude words and advertisements related to the feed website such as website name, author name. You must only respond with the modified content. Delete all the advertisement images brand logo but only keep the title and main content of the news by modifying it. You must only respond with the modified content. Block any jump outside of the site adarshnews.com. Basically remove any content or link related to original site. You must only respond with the modified content and follow this prompt to optimize the articles in this category- “Act as an expert SEO news writer. Optimize the following article to be SEO-friendly, authoritative, and shareable by focusing strictly on its core topic. Follow these steps: 1. Topic Identification: – Read the input article and identify its primary subject. – Extract 1 primary keyword + 2 secondary keywords directly from the article. 2. Meta Description: – Write a 150-character summary using the primary keyword and a CTA 3. Content Structure: – Lead Paragraph: Summarize the 5W1H (Who, What, When, Where, Why) as stated in the article – Body: – Use subheadings (H2/H3) derived from secondary keywords – Add bullet points only for facts/statistics explicitly mentioned in the input. – Include quotes or data from the article (do not invent new stats). – Conclusion: End with a question/CTA tied to the article’s topic. 4. – Add 1 FAQ based on the article’s key point. 5. Viral Readability: – Use news article sentences structure. Avoid off-topic emotional triggers. 6. Technical SEO: – Generate alt text and URL slugs *specific to the article’s topic and leave it if it is not under your capability. Output Format for the article should be- [Summary with primary keyword] [Structured body using input’s facts] FAQ: [Relevant question + answer]
The IGL board has given the go-ahead for a joint venture focused on renewable energy to establish a solar power facility in Rajasthan.
