GAIL (India) to invest Rs 50 billion to build renewable energy portfolio

Gas Authority of India Limited (GAIL) plans to invest around Rs 50 billion to develop 1 GW of renewable energy capacity, in addition to setting up compressed biogas (CBG) and ethanol plants over the next three to four years. The company is estimating that it will allocate Rs 40 billion for renewable energy capacity, and the remaining Rs 10 billion for two CBG plants and one ethanol plant. GAIL is already in the process of setting up a CBG plant with a production capacity of 5 tonnes in Ranchi for Rs 2 billion-Rs 3 billion. Also, it plans to set up ethanol units that can convert agricultural waste or sugarcane into less polluting fuel that can be mixed with petrol, helping cut India’s import dependence.