GAIL, gas utility company will bid for 400 MW solar power capacity being auctioned by SECI in Rewa, Madhya Pradesh making it the latest state-run oil and gas company to bet big on renewable energy for a low-carbon future.
Gail Chairman Manoj Jain told Time of India that the company will bid for three PV projects totalling 400 MW capacity.
Jain said funds “are not a problem for GAIL as we practically have no debt.
“We had won the bid for Rs 4,800 MW operational wind power projects of ILFS in 2019. But ILFS’ other partner used the first right of refusal. Otherwise, it would have made a good renewable portfolio,” he said.
In March 2019 Gaid had tied up with state-run power gear maker BHEL for renewables foray. Both companies have left the arrangement open on the choice of equipment for projects.
“BHEL’s solar equipment has a quality advantage. But in some cases, imports could make more sense. It is for BHEL to take the lead in such issues,” he said.
The tie-up was aimed at leveraging the competitive strengths of both companies. GAIL will be the project developer and BHEL will be the project manager and EPC (engineering, procurement contractor) contractor.
GAIL earlier had commissioned a 5 MW rooftop solar power plant, India’s second-largest, atop two warehouses at Pata petrochemicals complex in UP.