Shell Energy India to Spend Rs 3,500 Crore on Renewable Energy Project in Gujarat
On Wednesday, Shell Energy India said that it would invest Rs 3,500 crore in Gujarat to build an LNG regasification terminal, electric vehicle charging stations, and a facility for renewable energy. These projects would support almost 4,300 employees. According to a government announcement, the Gujarat government and Shell Energy India signed a memorandum of understanding (MoU) in this respect on Wednesday in Gandhinagar in the presence of the chief minister, Bhupendra Patel.
According to the press release, the deal was inked as part of the tenth Vibrant Gujarat Global Conference, which will take place in January 2019.
A renewable energy production facility would be built on 1,200 acres in the Banaskantha district of north Gujarat with a Rs 2,200 crore investment from Shell Energy India under the terms of this MoU.
More than 1,000 people will have direct and indirect jobs thanks to the facility, which is anticipated to start commercial production by 2026.
Moreover, the energy giant will spend Rs 800 crore to build fuel retailing and EV recharge stations around the state, creating jobs for about 2,000 people in the process. According to the publication, this project will be operational by 2027.
Moreover, Shell Energy India would contribute Rs 500 crore to the debottlenecking, asset integrity rejuvenation, and LNG regasification projects.
According to the statement, this project will provide employment possibilities for 375 people and is anticipated to start commercial production by 2027.
About Shell Energy India
Shell Energy India is a subsidiary of Royal Dutch Shell, a global energy company. Shell Energy India is engaged in the business of sourcing, marketing, and trading of natural gas and renewable energy in India. Shell Energy India also operates a liquefied natural gas (LNG) terminal in Hazira, Gujarat, which has a capacity of 5 million tonnes per annum .
Shell Energy India aims to provide clean, reliable, and affordable energy solutions to its customers, such as power plants, industries, city gas distribution companies, and commercial and residential users. Shell Energy India also supports the development of renewable energy sources, such as solar, wind, and biofuels, in India. Shell Energy India is committed to reducing its carbon footprint and contributing to India’s energy transition and climate goals.