Indraprastha Gas forms JV for Rajasthan solar project

Indraprastha Gas Limited (IGL) has entered into a joint venture agreement with M/s Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to set up a solar power project in Rajasthan. This follows the board's approval on March 29, 2025, for the solar plant's establishment.

The joint venture will have an equity participation ratio of 74:26, with IGL holding the majority stake. The initial paid-up capital for the JV company will be INR 500,000, divided into 50,000 equity shares of INR 10 each.

The board of directors of the JV will consist of six members, with IGL nominating four directors and RVUNL nominating two. Gail (India) Limited, a promoter of IGL, is also involved in this joint venture.