Indraprastha Gas (IGL) has announced a joint venture (JV) with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL) to establish a solar power project in Rajasthan.
The JV will see equity participation in the ratio of 74:26, with IGL holding the majority stake. Its board will comprise six directors—four nominated by IGL and two by RVUNL—ensuring representation aligned with the shareholding structure. The entity will have an initial paid-up capital of Rs 5 lakh, divided into 50,000 equity shares of Rs 10 each.
IGL’s board had initially approved the JV’s formation in March, highlighting its diversification into renewable energy beyond its core business of compressed natural gas (CNG) and piped natural gas (PNG) in the DelhiNCR region.