Startups looking for an equity investment from the state-owned gas utility can submit proposals online till January 24.
Government incentives driving state-owned enterprises’ investment away from the soon-to-be stranded fossil fuel based assets are a way of further boosting investment in the renewable energy sector.
The two state-owned units will jointly pursue commercial solar power projects through participation in tariff/viability gap funding (VGF) based competitive bidding.
Global Infra Partners, KKR, Brookfield, I Squared Capital and Macquarie are reported to be among those eyeing the renewable energy assets of debt riddled Infrastructure Leasing and Financial Services.
GAIL, which is a state-owned provider of gas, commissioned a 5.76 MW rooftop PV array at its Pata petrochemicals plant in Uttar Pradesh at the end of 2017.
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