Petronet LNG Limited
Main Body
Petronet LNG Limited (PLL) has executed a binding term sheet with Gruner Renewable Energy Private Limited on 22nd October 2026 for the formation of a Joint Venture company. The purpose of the JV is to carry on the business of Compressed Bio-Gas (CBG), including feedstock procurement, production, manufacturing, processing, compression, distribution, storage, transportation, supply, trading and selling of CBG and all associated by-products. The JV will also be involved in setting up, developing, establishing, operating, maintaining, and commissioning of CBG plants.
The joint venture will be structured as a Private Limited company with 50:50 equity participation between Petronet LNG Limited and Gruner Renewable Energy Private Limited. The number of directors representing each party on the Board of Directors shall be in proportion to their respective equity shareholding in the JV Company.
The specific project scope involves establishing 10 CBG plants across various states in India, with each plant having a capacity of 18 MT per day, resulting in a total capacity of 180 MT per day. The estimated capital outlay for this project is ₹1,200 crore.
There is no existing shareholding relationship between the parties, and the transaction does not qualify as a related party transaction. The agreement is being executed at arm's length basis.
Other Key Announcements
No additional material announcements or disclosures were included in this document beyond the joint venture formation.