GAIL (India) Ltd will invest about Rs 5,000 crore to build a portfolio of at least 1 gigawatts of renewable energy and set up compressed biogas as well as ethanol plants as it steps up efforts to expand the business beyond natural gas.
As part of a push to embrace cleaner forms of energy, GAIL will be laying pipeline infrastructure to connect consumption centers to gas sources and spend as much as Rs 4,000 crore on renewable energy, GAIL Chairman and Managing Director Manoj Jain said.
“We are a business that is already eco-friendly – gas. And now we want to leverage our position to go greener in line with the vision of the government and the Prime Minister to cut carbon emissions and pollution,” he said.
