GAIL increases startup fund to Rs 5 billion for clean energy innovation

GAIL India Limited has raised its startup investment fund from Rs 1 billion to Rs 5 billion to support emerging enterprises in clean energy, renewables, energy storage, electric mobility, and digital transformation. This initiative aims to provide enhanced financial and strategic support to entrepreneurs, fostering innovation and sustainability in India’s energy and technology sectors.

Currently, GAIL holds a renewable energy portfolio of 132 MW, with 118 MW in wind and 14 MW in solar. Since launching its startup initiative in July 2017, GAIL has invested in 36 startups across sectors such as compressed biogas, electric mobility, and environmental solutions.

Meanwhile, Oil India Limited (OIL) has incorporated Oil Green Energy Limited, a wholly-owned subsidiary, to implement renewable energy projects in India. The subsidiary will focus on generating energy through non-conventional renewable sources, including solar, wind, hydro, tidal, geothermal, biomass, and waste hybrid power projects.