State-owned gas company GAIL India has released its business plan for 2020 which includes consolidation, expansion, and diversification; and not to be left out is its plan to venture more into renewable energy.
The new corporate business plan, dubbed Next Wave, will use various investments to mobilize resources in order to finance projects. The company has initiated a 5 MW wind power project and is planning on setting up another project that would total 50 MW. GAIL also plans to partake in the National Solar Mission which includes the development of a 50-MW solar thermal power project, according to B C Tripathi, the company chairman and managing director.
While the company is planning to venture more into upstream LNG projects in Africa, among other places, it has yet to be announced if it will also go into Africa’s burgeoning renewable energy sector.
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