Joint Venture29 Jul 2025, 06:01 pm
GAIL (India) Ltd and Rajasthan Rajya Vidyut Utpadan Nigam Limited Enter Joint Venture Agreement
AI Summary
GAIL (India) Ltd and Rajasthan Rajya Vidyut Utpadan Nigam Limited have executed a Joint Venture Agreement on 29.07.2025. The purpose of the agreement is the 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 Joint Venture Company (JVC). The JVC will also set up around 750 MW solar projects and around 250 MW wind power projects in Rajasthan. GAIL and RVUNL will each have the right to nominate 3 Directors in the JVC. The transaction is not a related party transaction and shares will be issued at the time of infusion of equity in the JVC.
Key Highlights
- GAIL (India) Ltd and Rajasthan Rajya Vidyut Utpadan Nigam Limited execute Joint Venture Agreement
- 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 Joint Venture Company
- Setting up of around 750 MW solar projects and around 250 MW wind power projects in Rajasthan through the JVC
- GAIL and RVUNL will each have the right to nominate 3 Directors in the JVC
- Shares will be issued at the time of infusion of equity in the JVC