IGL and RVUNL plan 500 MW solar project in Rajasthan

Indraprastha Gas Ltd (IGL) has approved a joint venture with Rajasthan Vidyut Utpadan Nigam Ltd (RVUNL) to develop a solar power plant in Rajasthan. The project aims for a capacity of 500 megawatts and marks IGL's entry into renewable energy. The solar plant will be located in Bikaner district. IGL plans to hold a 74% stake in the joint venture while RVUNL will own 26%. The state government will help provide land and support the project's power evacuation needs. The estimated cost for the solar project is ₹ 2,066 crore and will be funded via debt and equity. Once the Rajasthan state cabinet approves the plan, the joint venture's formation will begin, with project completion expected in 18 months. IGL aims to create a 1 gigawatt renewable energy portfolio within the next two to four years. Currently, the company operates mainly in city gas distribution and has expanded its efforts to include compressed biogas solutions.