(This story originally appeared in 
on Jun 09, 2021)
on Jun 09, 2021)New Delhi: Gas utility will bid for 400MW solar power capacity being auctioned by SECI (formerly Solar Energy Corporation of India), making it the latest state-run oil and gas company to bet big on renewable energy for a low-carbon future.
“GAIL will bid for three projects being auctioned by SECI in Rewa, Madhya Pradesh,” company chairman Manoj Jain told TOI on Wednesday.
Separately, the company posted a profit of Rs 1,908 crore for the January-March quarter, down 36% from Rs 3,018 crore a year ago. Sequentially, however, profit was up 28% from the third quarter. On proposed outlay for renewables, Jain said funds “are not a problem for GAIL as we practically have no debt.
