GAIL Approves Rs 1,736 Cr Wind Project; Shares Fell 2.75%
Shares of GAIL (India) Ltd fell 2.75% on 2nd March after touching the day’s high of Rs 167.96. This occurred despite the company stating that its board has approved an investment of Rs 1,736.25 crore. This investment is to set up a 178.2 MW greenfield wind power project in Maharashtra.... The post GAIL Approves Rs 1,736 Cr Wind Project; Shares Fell 2.75% appeared first on Equitypandit.
Shares of GAIL (India) Ltd fell 2.75% on 2nd March after touching the day’s high of Rs 167.96. This occurred despite the company stating that its board has approved an investment of Rs 1,736.25 crore. This investment is to set up a 178.2 MW greenfield wind power project in Maharashtra.
The proposed 178.2 MW wind capacity will be added within 24 months from the award of the Lump Sum Turnkey (LSTK) contract. GAIL currently operates 117.95 MW of wind capacity at full utilisation. Also, this new project will significantly expand its renewable energy portfolio.
The total project cost stands at Rs 1,736.25 crore and will be funded through a mix of debt and equity. The company said the capacity addition is aimed at supporting its business growth.
With this expansion, GAIL’s renewable portfolio will move beyond its existing 145 MW alternative energy capacity. This figure includes 118 MW of wind and 27 MW of solar projects. These projects are spread across Gujarat, Karnataka, Tamil Nadu, Rajasthan, Uttar Pradesh and Madhya Pradesh.
The renewable push comes amid broader strategic developments. On 15th January, NTPC Green Energy Ltd approved a 50:50 joint venture with GAIL (India) Ltd.
Separately, the Ministry of Petroleum and Natural Gas has proposed transferring GAIL’s stake in city gas distribution companies to GAIL Gas through a demerger or share transfer. Furthermore, a listing and minority stake dilution may follow this via an IPO.
GAIL (India) Q3 Results
On the financial front, revenue fell 2.7% to Rs 34,075.8 crore in Q3 FY26 from Rs 35,031.2 crore a year ago. Additionally, EBITDA declined 17% to Rs 2,655.2 crore from Rs 3,190.6 crore in the same quarter last year.
At 1:01 PM, shares of GAIL (India) Ltd were trading 2.72% lower at Rs 164.92 on the NSE.
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The post GAIL Approves Rs 1,736 Cr Wind Project; Shares Fell 2.75% appeared first on Equitypandit.
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