GAIL (India) Ltd, India’s largest natural gas company, has announced plans to expand vertically integrated solar power generation with an undisclosed partner.
State-run GAIL is looking at the possibilities of solar energy manufacturing. It plans to manufacture solar power products in collaboration with an undisclosed company. They are setting up an integrated solar manufacturing project that includes metallurgical silicon, polysilicon, ingots/wafers, cells, modules and solar glass through a special purpose vehicle (SPV).
GAIL and a potential partner plan to collaborate on a solar power manufacturing project through a joint special purpose vehicle (SPV). GAIL said it may acquire the agreed equity stake in the SPV.
GAIL intends to conduct due diligence on the solar power manufacturing project in collaboration with its potential partner/SPV. A consultant is hired to evaluate the opportunity based on the information provided by the partner/SPV. If the result is positive, GAIL and its partner can proceed with the deal with the approval of the government.
GAIL has diversified into renewable energy with 118 MW of wind power and about 14 MW of solar power.
