IGL Eyes Stake Acquisitions in City Gas Distribution Firms Amid Renewable Energy Push
Indraprastha Gas Limited (IGL), India's largest CNG distribution company, is exploring stake acquisitions in existing city gas distribution firms, said Chairman Subhankar Sen.
Sen made this announcement at the company's 27th Annual General Meeting, where he also highlighted IGL's efforts to transition towards renewable energy. The company has signed a joint venture agreement with Rajasthan Vidyut Utpadan Nigam (RVUNL) for setting up a 500 MW solar power plant and has floated a tender for a 200 MW solar project in Rajasthan.
IGL operates city gas distribution infrastructure in several cities, including Delhi, and has set up over 70 new CNG stations in the last fiscal year. The company added over 370,000 new piped natural gas (PNG) domestic connections and met the fuel requirements of over 2.1 million vehicles running on CNG through its network.