IGL, RVUNL Form JV For 500 MW Solar Project In Rajasthan
IGL to hold 74 per cent stake, RVUNL 26 per cent; board to have six directors
Indraprastha Gas (IGL) and Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) have entered into a joint venture (JV) agreement to set up large-scale solar power projects in Rajasthan, beginning with a 500 MW facility.
The agreement was signed in Jaipur by Mohit Bhatia, director (commercial), IGL, and Devendra Shringi, chairman and managing director, RVUNL, in the presence of Ajitabh Sharma, principal secretary (energy), Government of Rajasthan, and Kamal Kishore Chatiwal, managing director, IGL, along with senior officials of both organisations.
As per the agreement, IGL will hold 74 per cent equity in the new JV company, while RVUNL will own the remaining 26 per cent. The JV board will have six directors, with four nominees from IGL and two from RVUNL.
The partnership is expected to play a key role in expanding renewable energy generation in Rajasthan, a state with some of the highest solar potential in India.
