Shell Energy India Private Limited has entered into a memorandum of understanding (MoU) with the Gujarat government to invest Rs 35 billion in Gujarat to set up a renewable energy facility, charging stations for electric vehicles (EVs), and an liquefied natural gas (LNG) regasification terminal.
Under this MoU, Shell Energy will invest Rs 22 billion to set up a plant for renewable energy production in Banaskantha, North Gujarat. The plant is expected to commence commercial production by 2026. In addition, Shell Energy will invest Rs 8 billion in fuel retailing EV recharge station in various locations of the state. This project is expected to be operational by 2027. In addition, Shell Energy will invest Rs 5 billion in the LNG regasification terminal, asset integrity rejuvenation, and debottlenecking project. This project is expected to commence commercial production by 2027.