GAIL decides to invest in renewables portfolio

The Gas Authority of India Limited (GAIL), a state-owned company in India, has decided to invest about $334.88 million (Rs 26,000 crore) in its renewables portfolio by 2030.

According to company, it has undertaken liquid hydrogen capacity addition and the progress done on the prototype will influence its overall investments, a call on which will be taken after 18 months.

At present, GAIL is in the process of procuring a 10 mw facility for liquid hydrogen, which would be the largest in the country, and is on the lookout for an electrolyser.

The company is looking at 1 gw of renewable capacity over the next three years, but from a long-term perspective, coupled with green hydrogen, it is looking at 3 gw for renewable capacity.