Indraprastha Gas Limited Forms Joint Venture with RVUNL for Solar Project

Indraprastha Gas Limited (IGL), a joint venture of GAIL, BPCL and the Government of NCT Delhi, has formally entered into a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) to establish a solar power project in Rajasthan. The announcement was made on September 1, 2025, following the company’s earlier board approval in March this year.

Agreement Details and Shareholding Structure 

The joint venture agreement sets IGL’s equity participation at 74%, with RVUNL holding the remaining 26%. The JV company will have an initial paid-up capital of ₹5,00,000, divided into 50,000 equity shares of ₹10 each. The board of directors will comprise six members, four nominated by IGL and two by RVUNL. 

According to the filing, the venture is designed to strengthen IGL’s renewable energy footprint through the development of a solar power project in Rajasthan.

Governance and Disclosures

IGL clarified that the transaction is not a related party arrangement. However, GAIL (India) Limited, a promoter of IGL, had already signed a joint venture agreement with RVUNL on July 29, 2025. As part of the governance structure, IGL will nominate four directors while RVUNL will nominate two. In the event of amendments or termination of the agreement, both parties have committed to sharing details of the changes, including reasons and impact.

About Indraprastha Gas Limited

Indraprastha Gas Limited is a leading city gas distribution company supplying natural gas to households, industries, commercial establishments and vehicles in the Delhi-NCR region. With a strong distribution network and joint venture support from GAIL and BPCL, IGL has steadily diversified into clean energy solutions, further strengthening its role in India’s energy transition.

Read More: Websol Energy Board Approves 1:10 Stock Split, ₹3,000 Crore Solar Project!

Indraprastha Gas Share Price Performance 

As of September 2, 2025, at 11:08 AM, Indraprastha Gas share price is trading at ₹217.60 per share, reflecting a gain of 2.91% from the previous closing price. Over the past month, the stock has gained by 5.27%.

Conclusion

The joint venture between IGL and RVUNL marks a decisive step towards renewable energy development in Rajasthan. With IGL holding majority control and the governance framework clearly defined, the partnership is expected to advance solar infrastructure while reinforcing IGL’s commitment to sustainable energy growth.

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