PETRONET LNG: FORMS JV FOR 10 CBG PLANTS

PETRONET LNG: FORMS JV FOR 10 CBG PLANTS WORTH OVER ₹1,200 CR

• Binding term sheet signed on 22 October 2026 with Gruner Renewable Energy Pvt. Ltd. to form a joint venture for setting up CBG plants across India • JV to be structured as a private limited company with 50:50 equity participation, with board representation in proportion to shareholding • JV plans to establish 10 CBG plants, each with a capacity of 18 MT per day, with an estimated total capital outlay of ₹1,200 Cr • Scope includes feedstock procurement, CBG production, compression, distribution, storage, transportation, trading and sale, along with associated by-products • Petronet LNG has no shareholding in Gruner Renewable Energy; the transaction is not a related-party transaction Impact: Positive — The JV provides Petronet LNG an entry into the growing compressed biogas segment and diversifies its energy portfolio beyond LNG import and regasification. However, the ₹1,200 Cr investment is shared between the JV partners and near-term earnings contribution has not been stated.