GAIL (India) has increased its startup investment fund from Rs 1 billion to Rs 5 billion. The expanded fund will be directed towards supporting startups focused on clean energy, renewables, energy storage, electric mobility, and digital transformation.

Launched in July 2017, GAIL’s initiative ‘Pankh’ aims to support and nurture startups. Since its inception, the program has invested in 36 startups spanning various sectors, including compressed biogas (CBG), electric mobility, and environmental solutions.

The company’s renewable energy portfolio currently stands at 132 MW, consisting of 118 MW of wind energy and 14 MW of solar energy. GAIL is also exploring opportunities in CBG production from organic waste and is venturing into sectors like ethanol and hydrogen. Additionally, the company is establishing 20 MW solar projects to meet the energy needs of its electrolyzer project in Vijaipur, Madhya Pradesh.

In October 2024, GAIL invited bids for the design, procurement, construction, and operation of a 7.75 MW grid-connected floating solar project at Vijaipur. Furthermore, a rooftop solar system installed at GAIL’s Pata plant in Uttar Pradesh reduced GHG emissions by 199 tCO2e in FY 2023-24.

The company’s electricity consumption from renewable sources grew from 92,182 gigajoules in 2022-23 to 1,16,872 gigajoules in 2023-24. GAIL aims for a 100 per cent reduction in Scope 1 and Scope 2 emissions by 2035 and a 35 per cent reduction in Scope 3 emissions by 2040.

In January, GAIL and TruAlt Bioenergy invested $72 million in a joint venture to establish CBG projects, with GAIL joining TruAlt’s company, Leafiniti Bioenergy, to operate one of India’s largest CBG plants.

News source: Mercom India