State-owned Gail India plans to invest INR26,000 crore in its renewables portfolio by 2030, a senior company executive said.
“We will be investing INR6,000 crore in the renewable segment in three years, and another INR20,000 crore by 2030, which is contingent upon certain technical aspects on the hydrogen front that the company is working out,” said Manoj Jain, chairman and managing director, Gail.
The company has undertaken liquid hydrogen capacity addition and the progress done on the prototype will influence its overall investments, a call on which will be taken after 18 months.
At present, Gail is in the process of procuring a 10 mw facility for liquid hydrogen, which would be the largest in the country, and is on the lookout for an electrolyser.
Jain said the company is looking at 1 gw of renewable capacity over the next three years, but from a long-term perspective, coupled with green hydrogen, it is looking at 3 gw for renewable capacity.
“By 2030, around 50,000 tonnes per annum of hydrogen will be available, of which 35,000 tpa will be subject to how things pan out after 18 months,” Jain said, adding that 10% of Gail’s portfolio should be hydrogen plus renewable by 2030.
Rakesh Kumar Jain, director (finance), said the company has outlined a capital expenditure plan of up to INR40,000 crore in the next five years across its business segments, including transmission and marketing of gas, and petrochemicals and pipelines. “This will entail borrowings of up to INR20,000 crore, while the rest will come from internal accruals,” the director of finance said.
