GAIL signs Rs 5000 Crore MoU with Karnataka Govt

New Delhi: The Karnataka government has signed a Memorandum of Understanding (MoU) with GAIL (India) Limited to install 1 gigawatt (GW) of renewable energy capacity throughout the state as a strategic move to strengthen clean energy infrastructure. This project is expected to cost Rs 5,000 crore.

In the presence of K.J. George, Minister of Energy, and M.B. Patil, Minister of Large and Medium Industries and Infrastructure Development, the agreement was formally signed on Friday. In addition to wind energy and integrated storage systems, the proposed projects will combine ground-mounted, rooftop, and floating solar installations.

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Karnataka's willingness to assist the project through adaptable land acquisition methods, such as leasing from farmers or distribution through the Karnataka Industrial Areas Development Board (KIADB), was underlined by Minister Patil.

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In order to speed up execution, he promised that all required approvals and incentives would be granted as soon as possible. In order to expedite development in accordance with its capital expenditure roadmap, he also mentioned GAIL's interest in purchasing land within existing solar parks.

It is anticipated that the partnership will create opportunities for additional clean energy investments in the state. The MoU strengthened Karnataka's standing as a leader in renewable energy, according to Minister George, who called it a turning point in the state's energy history.

He highlighted the success of the Pavagada Solar Park, which currently generates 2,050 MW annually, and pointed to the availability of an additional 10,000 acres offered by local farmers for upcoming solar projects.

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