GAIL to explore opportunities in solar manufacturing

GAIL India Limited is looking to explore opportunities for solar manufacturing potential. It intends to manufacture PV panels in collaboration with an unnamed company, building an integrated solar manufacturing project that will include metallurgical grade silicon, polysilicon, ingot/wafers, cells, modules, and solar glass through a special purpose vehicle (SPV).

GAIL is looking for a consultant to do a due diligence study for the project based on data/information provided by GAIL’s prospective partner/SPV. If the study’s findings are favourable, GAIL and its prospective partner may proceed with the deal, subject to board approval. GAIL and its prospective partner intend to collaborate on the PV manufacturing project via the SPV. Also, GAIL may purchase an appropriate equity position in the SPV if the two parties agree.

In March 2023, GAIL India Limited signed an agreement with Shell Energy India to explore opportunities across the energy value chain.The MoU intends to investigate opportunities in the import and handling of various hydrocarbons that are important chemical and petrochemical precursors, LNG for road transport, regasification of imported LNG, renewables, and other areas.