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GAIL (India) Boosts Startup Fund to Rs500 Cr to Drive Clean Energy Innovation

GAIL (India) Limited, a leading natural gas company, has announced a significant increase in its startup investment fund from Rs100 Cr to Rs500 Cr. The enhanced fund will be utilized to support and nurture promising startups focused on clean energy, renewables, energy storage, electric mobility, and digital transformation. GAIL launched its startup initiative, ‘Pankh,’ in July 2017 to foster innovation and entrepreneurship in emerging sectors. Since its inception, the initiative has invested in 36 startups across diverse areas, including compressed biogas (CBG), electric mobility, and environmental solutions. The increased fund underscores GAIL’s commitment to accelerating the growth of innovative startups that align with India’s clean energy and sustainability goals.

GAIL’s current renewable energy portfolio stands at approximately 132 MW, comprising 118 MW of wind energy and 14 MW of solar power. The company is actively exploring opportunities in emerging sectors such as ethanol and hydrogen, alongside its efforts to produce and market CBG from organic waste.

To meet its renewable energy targets, GAIL is sourcing power through open access and developing 20 MW solar projects to support its electrolyzer project in Vijaipur, Madhya Pradesh. GAIL has set ambitious sustainability targets, aiming for a 100% reduction in Scope 1 and Scope 2 emissions by 2035 and a 35% reduction in Scope 3 emissions by 2040.

With its increased startup fund and focus on clean energy, GAIL is poised to play a pivotal role in India’s transition to a sustainable energy future. By supporting innovative startups and expanding its renewable energy portfolio, the company aims to contribute significantly to the nation’s climate goals and energy security.

GAIL (India) Limited is India’s leading natural gas company, with a diversified portfolio spanning natural gas, petrochemicals, and renewable energy. The company is committed to driving sustainable development and innovation in the energy sector.