Indraprastha Gas Limited (NSE: IGL), a joint venture of GAIL, BPCL, and the Government of NCT Delhi, has entered into a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to set up a solar power project in Rajasthan. The formal agreement was signed on September 1, 2025, following earlier board approval in March this year.
JV Agreement and Shareholding
- Equity Structure: IGL will hold 74% stake, while RVUNL will own 26%.
- Capital Structure: The JV company will begin with a paid-up capital of ₹5 lakh, divided into 50,000 equity shares of ₹10 each.
- Board Representation: Six-member board with four directors from IGL and two from RVUNL.
The project is expected to strengthen IGL’s renewable energy portfolio, aligning with India’s focus on scaling up clean energy capacity.
Governance and Disclosures
IGL clarified that the deal does not fall under related-party transactions. However, GAIL (India) Limited, one of IGL’s promoters, had already signed a separate joint venture agreement with RVUNL on July 29, 2025.
Both IGL and RVUNL have committed to transparent disclosures regarding any amendments, terminations, or modifications to the agreement, including their impact.
About IGL
Indraprastha Gas Limited is a leading city gas distribution company, supplying natural gas to households, industries, commercial establishments, and vehicles across the Delhi-NCR region. Backed by GAIL and BPCL, IGL has been diversifying into renewable energy projects to expand its clean energy footprint.
Summary
Indraprastha Gas Limited has signed a joint venture with RVUNL to set up a solar power project in Rajasthan, with IGL holding a 74% stake. The move expands IGL’s presence in the renewable energy sector, aligning with India’s broader transition toward sustainable energy solutions.
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