Indraprastha Gas Limited (IGL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL) have formed a joint venture (JV) for setting up a solar power project in Rajasthan.
Under the agreement, IGL will hold a 74 per cent stake and RVUNL will hold 26 per cent in the JV company, which will have an initial paid-up capital of Rs 500,000. The board of directors will comprise six members, with four nominated by IGL and two by RVUNL.