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Indraprastha Gas Limited (IGL) has officially announced its entry into a Joint Venture Agreement with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to establish a significant Solar Power Project in the State of Rajasthan.
This strategic move, which was initially approved by IGL’s Board of Directors on March 29, 2025, marks a notable expansion into the renewable energy sector for IGL. The intimation of this development was made to the stock exchanges on September 01, 2025.
According to the agreement, RVUNL will contribute the remaining 26% of the joint venture’s stock, while IGL holding a dominant 74% equity participation.
The newly established JV Company will start operations with a initial paid-up capital of Rs. 5,00,000, which will consist of 50,000 equity shares, each worth Rs. 10.
Governance of the joint entity will be structured with a six-member Board of Directors. RVUNL will propose the other two directors to the board, while IGL will have the authority to propose four. This setup provides IGL with significant control over the strategic direction and operations of the solar power project.
This collaboration underscores IGL’s commitment to diversifying its energy portfolio and contributing to sustainable power generation initiatives. Importantly, the company clarified that this transaction does not fall under the purview of related party transactions for IGL.
However, it is noteworthy that Gail (India) Limited, one of IGL’s promoter companies, had previously entered into its own separate Joint Venture Agreement with RVUNL on July 29, 2025.
The Joint Venture Agreement was signed between Indraprastha Gas Limited and Rajasthan Rajya Vidyut Utpadan Nigam Limited.
This disclosure was made under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The official intimation was signed by Vivek Sahay, Company Secretary & Compliance Officer, on behalf of Indraprastha Gas Limited.
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