GAIL India forms venture with EESL for trigeneration projects

Government of India undertaking company, Gail (India) Limited informed the bourses after-market hours on Wednesday that it has joined hands with Energy Efficiency Services Limited (EESL) to secure cooperation in the development of trigeneration projects in India. It signed a Memorandum of Understanding (MoU) to this effect.

The MoU states that the company shall conjointly undertake the studies contemplating viable options, and on discovery of feasible options, will operate as a 50:50 joint venture for the project.

Trigeneration or Combined Cooling, Heat and Power (CCHP), involves the use of natural gas-fired generators to produce electricity. The waste heat from flue gas is recovered to produce steam which in turn, is used for heating purposes as well as in absorption chillers for cooling.

Manoj Jain, C&MD – GAIL, while commenting on the development, said that since the trigeneration business was at an initial stage, the collaboration is likely to enable the company to take first-mover advantage in the trigeneration business similar to its city gas business. He further stated that this would also push gas usage in new applications which is in line with GAIL's Strategy 2030.

GAIL (India) Limited is an integrated energy company in the hydrocarbon sector. Its products and services include petrochemicals (polyethene and polypropylene), natural gas marketing and transmission and liquid hydrocarbons production (LPG, propane, pentane and naphtha).

At 11 am on Thursday, the stock was trading at Rs 97.70 per share, up by 1.45 per cent or Rs 1.40 per share. The 52-week high is recorded at Rs 169.48 and the 52-week low is Rs 65.70 on BSE.