India’s largest natural gas company plans to partner with an undisclosed company to undertake vertically integrated solar manufacturing.
The MoU envisages exploring prospects in renewables, LNG for road transport, regasification of imported LNG, and import and handling of different hydrocarbons which are important chemical and petrochemical precursors.
The State government has signed agreements for various giga-scale projects across renewable energy generation, solar manufacturing, pumped hydro storage, and green hydrogen.
The state-owned natural gas company has started accepting domestic bids to install and commission 600 MW (AC) of solar capacity at Khavda Ultra Mega Solar Park. The prospective contractor will also provide ten years of comprehensive operation and maintenance for the PV plant.
The plant at its Jorhat oilfield in Assam will produce green hydrogen using anion exchange membrane (AEM) technology.
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.
India’s leading infrastructure finance company IL&FS expects up to Rs 80 billion from wind and solar asset sales.
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