Indian state-owned Gail India will invest Rs 6,000 crore in renewable energy projects over the next three years. Although the plan is to commission 1 GW of electricity over the next three years, GAIL expects renewable energy capacity to be close to 3 GW by 2030.

The company is currently adding green hydrogen capacity and has made progress with a prototype that will impact its overall investment and will call it in 18 months. In 2022, GAIL India has invested Rs 7,700 crore in all activities, including pipelines for core power transmission business and petrochemicals.

GAIL Limited has been awarded the contract to build one of the largest proton exchange membrane electrolyzers in India, producing 4.3 tonnes of hydrogen per day. In line with the National Hydrogen Mission, the Renewable Energy Power Project will be installed in Guna, Madhya Pradesh. According to a press release issued by the Ministry of Petroleum and Petroleum, the project is designed to produce about 43 metric tons of hydrogen per day with a purity of about 99.99% and is scheduled to start production in November 2023. The electricity to run the electrolyzer will come from a local solar installation.

Rakesh Kumarain, director of GAIL India, said net profit after tax in fiscal 2022 rose 112% and outlined an overall capital expenditure plan of up to Rs 40,000 crore over the next five years, which would cover a wide range of areas and would require borrowings of up to Rs 2,000 crore. The rest will come from internal accruals.Editor/XingWentao