Shell Energy India to invest Rs 3,500 crore to set up renewable energy facility in Gujarat

Shell Energy India on Wednesday said it will invest Rs 3,500 crore in Gujarat to set up a renewable energy facility, charging stations for electric vehicles, and an LNG regasification terminal, which would create nearly 4,300 jobs.

Ahmedabad: Shell Energy India on Wednesday said it will invest Rs 3,500 crore in Gujarat to set up a renewable energy facility, charging stations for electric vehicles, and an LNG regasification terminal, which would create nearly 4,300 jobs.

A memorandum of understanding (MoU) in this regard was signed between the Gujarat government and Shell Energy India in Gandhinagar on Wednesday in the presence of Chief Minister Bhupendra Patel, a government release said.

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The agreement has been signed as part of the upcoming 10th edition of the Vibrant Gujarat Global Summit to be held in January next year, said the release. Under this MoU, Shell Energy India will invest Rs 2,200 crore to set up a renewable energy production facility on 1,200 acres in Banaskantha district of north Gujarat.

The facility will provide direct and indirect employment to more than 1,000 people, and it is expected to commence commercial production by 2026.

In addition, the energy major will invest Rs 800 crore to set up fuel retailing and EV recharge stations across the state, thereby providing employment opportunities to approximately 2,000 people. This project will be operational by 2027, said the release.

Further, Shell Energy India will invest Rs 500 crore in the LNG regasification terminal, asset integrity rejuvenation, and debottlenecking project. This project will create employment opportunities for 375 people, and is expected to commence commercial production by 2027, said the release.