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GAIL to Bid for SECI's 400 MW Capacity Auction

GAIL, a government-owned natural gas corporation, will place bids for 400 MW solar power capacity being auctioned by the Solar Energy Corporation of India (SECI), making it the latest state-run oil and gas company to bet on renewable energy for a low-carbon future.

 

GAIL will bid for three projects aggregating 400 MW capacity being auctioned by SECI in Rewa, Madhya Pradesh.

 

The company had won the bid for 4,800 MW operational wind power projects of ILFS in 2019. However, ILFS’ other partner used the first right of refusal.

 

GAIL has a debt-equity ratio of 1:0.14 and total debt of Rs 5,990 crore.

 

The company had in March 2019 tied up with BHEL for renewables foray. Both companies have left the arrangement open on the choice of equipment for projects. The tie-up was aimed at leveraging competitive strengths of both companies.

 

The company will be project developer and BHEL will be project manager and engineering, procurement contractor (EPC).

 

The company had in January 2018 commissioned five MW rooftop solar power plants, India’s second-largest, atop two warehouses at Pata petrochemicals complex in Uttar Pradesh.

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