GAIL inks deal with AM Green to set up 2.5 GW of renewable projects

GAIL has signed a preliminary deal with AM Green to set up 2.5 GW of renewable projects jointly.

The two companies will “undertake studies for long-term supply of around 350,000 tonnes per annum of CO2 generated by GAIL in its gas processing plants to produce e-Methanol,” the state-run gas marketer said in a statement. “GAIL shall also have an equity option to invest in the proposed e-Methanol project.”

Companies will “jointly explore” setting up solar, wind or hybrid renewable projects up to 2.5 GW across India. “The hybrid solar/wind projects combined with Greenko’s upcoming pump storage projects are poised to supply round-the-clock power to the end users including the proposed e-Methanol project,” the company said. AM Green is controlled by the founders of Greenko.