GAIL (India) Ltd has approved an investment of ₹1,736.25 crore to set up a 178.2 MW greenfield wind power project in Maharashtra. The decision was taken at the board meeting held on February 27, according to a regulatory filing.
The proposed capacity will be added within 24 months from the award of the Lump Sum Turnkey (LSTK) contract. The project will be funded through a mix of debt and equity.
GAIL currently operates 117.95 MW of wind capacity, which is running at full utilisation. In addition to this, the company has solar installations of about 27 MW located in Rajasthan, Uttar Pradesh and Madhya Pradesh.
Across wind and solar, the company’s renewable capacity stands at around 145 MW. These assets are spread across multiple states including Gujarat, Karnataka and Tamil Nadu.
The proposed Maharashtra project will add new capacity to the company’s existing renewable base. The investment has been approved with the stated objective of supporting business growth.
Separately, NTPC Green Energy Ltd approved a 50:50 joint venture with GAIL earlier this year. The partnership is expected to focus on opportunities in the renewable energy segment.
The Ministry of Petroleum and Natural Gas has proposed transferring GAIL’s stake in city gas distribution companies to GAIL Gas. The transfer may take place through a demerger or share transfer structure.
Following this, a potential listing and minority stake dilution through an initial public offering (IPO) has also been proposed.
For Q3 FY26, GAIL reported revenue of ₹34,075.8 crore, compared with ₹35,031.2 crore in the same period last year. EBITDA declined to ₹2,655.2 crore from ₹3,190.6 crore.
GAIL operates a natural gas pipeline network of more than 15,000 km and accounts for roughly 52% of India’s gas supply.
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As of February 27, 2026, 3:30 pm, GAIL share price closed at ₹168.85, a 0.65% decrease from the previous closing price.
The wind project will increase GAIL’s renewable energy capacity over the next 2 years. The approved investment of ₹1,736.25 crore will be executed through debt and equity funding. The project timeline is linked to the award of the LSTK contract and will add to the company’s existing wind and solar portfolio.
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Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Mar 2, 2026, 9:01 AM IST
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