GAIL (India) Limited has entered into a Memorandum of Understanding (MoU) with VERBIO India Private Limited to explore the establishment of Agricultural Residue-based Compressed Biogas (CBG) plants across India. The signing took place in the presence of key executives, including GAIL’s Chairman & Managing Director, Shri Sandeep Kumar Gupta, and VERBIO’s Founder and CEO, Shri Claus Sauter.
Collaboration Details:
- Joint Initiative: The MoU focuses on leveraging the strengths of both companies to promote sustainable energy solutions and optimize the use of agricultural waste.
- Project Development: GAIL and VERBIO plan to identify suitable sites for greenfield CBG plants and conduct feasibility studies. Based on the results, they will seek investment approval from their respective managements to form a joint venture. Additionally, GAIL may consider acquiring equity in VERBIO’s existing CBG plant located in Punjab.
About VERBIO:
VERBIO is a prominent bioenergy producer with operations in Europe, North America, and Asia. The company specializes in producing biofuels such as biodiesel, bioethanol, and renewable natural gas (RNG), as well as high-quality renewable ingredients for various industries. With its focus on agriculture residues, VERBIO ranks among the world’s largest RNG producers and has established India’s largest Agri-residue-based CBG plant with a capacity of 33 tons per day in Punjab.
About GAIL (India) Ltd:
GAIL is a leading gas transmission and distribution company in India, operating an extensive network of pipelines and LPG extraction plants, along with interests in LNG terminals. GAIL is also expanding its business in the renewable energy sector, including green hydrogen and biofuels.
Stock Performance:
GAIL’s stock has demonstrated impressive growth, rising 80% from its 52-week low of ₹116.20 per share and achieving multibagger returns of 140% over the past two years. With a market capitalization exceeding ₹1.35 lakh crore, it is positioned as a notable mid-cap stock worth monitoring.
Investment Note:
Investors may find GAIL attractive due to its strong market performance and strategic partnerships that align with sustainability trends. However, conducting thorough research and seeking professional advice before making investment decisions is advisable.
Disclaimer:
This information is intended for informational purposes only and should not be interpreted as investment advice. Always consult a financial advisor for personalized recommendations.
Leave a Reply