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Published on September 12th, 2020 |
September 12th, 2020 by Saurabh
India’s largest government-owned gas distribution company has once again expressed its intention to expand its footprint in renewable energy sector.
GAIL India, previously Gas Authority of India Limited, recently announced its ambitions to expand into new areas of operation and expand its existing renewable energy portfolio. The company has some solar and wind energy projects operational. It is now looking to expand that portfolio through organic and inorganic ways.
According to media reports, the company is looking at some possible acquisitions in the renewable energy space. It is not clear if the company is only looking to acquire projects or take stakes in project development companies.
Days before India announced a nationwide lockdown in response to the COVID pandemic, there were media reports that GAIL was in talks with a major solar power developer. The company was said to have started due diligence of Acme Cleantech Solutions.
Acme claims a portfolio of 5.5 gigawatts, including 2.9 gigawatts of operational capacity. The company was considered among the pioneers of the Indian renewable energy sector. However, over the last couple of years it has stayed away from competitive auctions following some …
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