Jaipur: Indraprastha Gas Ltd (IGL) and Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RVUNL) have signed a joint venture agreement to set up large-scale solar power projects in Rajasthan, beginning with a 500 MW plant. The agreement was finalized in Jaipur in the presence of Rajasthan’s Principal Secretary (Energy) Ajitabh Sharma, IGL Managing Director Kamal Kishore Chatiwal, and senior officials of both organizations.
As per the agreement, IGL will hold a 74 per cent equity stake in the new venture, while RVUNL will retain 26 per cent. The joint venture’s board will comprise six members, with four representatives from IGL and two from RVUNL. This structure gives IGL operational control while ensuring state-level participation through RVUNL.
The move signals a strategic shift for IGL, which has primarily been engaged in city gas distribution, towards building a diversified renewable energy portfolio. For RVUNL, the collaboration aligns with Rajasthan’s focus on expanding solar capacity by leveraging its geographical advantage of high solar radiation. India has set an ambitious national target of achieving 500 GW of renewable energy by 2030, and projects such as this joint venture contribute to that trajectory.
By investing in large-scale solar generation, both companies aim to strengthen their role in India’s clean energy transition while meeting rising demand for sustainable power. The partnership also reflects a growing trend of traditional energy companies forming alliances to accelerate the shift toward renewables and reduce dependence on fossil fuels.
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