Gail (India) has executed a joint venture agreement with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) on July 29, 2025. Upon satisfactory outcome of due diligence of existing gas-based power plants by GAIL and requisite approvals, RVUNL shall incorporate a 100% subsidiary company, which shall become the Joint Venture Company (JVC) after investment by GAIL. After the incorporation of the subsidiary company, the existing power plants shall be transferred to the subsidiary company through an Asset Transfer Agreement.
The agreement includes transfer of existing 330 MW gas-based power plant in Dholpur, Rajasthan and / or 270.5 MW gas-based power plant in Ramgarh, Rajasthan to the JVC upon satisfactory outcome of the due diligence exercise by the company; and setting up of around 750 MW solar projects and around 250 MW wind power projects in Rajasthan through the JVC for complementing & bundling with the power produced from the existing gas-based power plants.
In the proposed joint venture, GAIL and RVUNL will hold 50%-50% shareholdings, respectively.
GAIL (India) is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG regasification, petrochemicals, city gas, E&P, etc.
| Company Name | CMP |
|---|---|
| GAIL India | 165.60 |
| Gujarat Gas | 383.05 |
| Indraprastha Gas | 164.55 |
| Mahanagar Gas | 1129.20 |
| Adani Total Gas | 627.00 |
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