Mahanagar Gas Limited (MGL) and Fourth Partner Energy Pvt. Ltd. (FPEL) have signed a memorandum of understanding to jointly explore opportunities for generation and supply of renewable energy solutions primarily for commercial and industrial customers within MGL's geographical areas. The agreement was signed by Manas Das, vice president responsible for business development and commercial functions at MGL, and Jay Kumar Waghela, chief executive of distributed business at FPEL. Senior executives including MGL's managing director Praveer Kumar Srivastava and deputy managing director Ajay Sinha attended the signing, as did FPEL's co-founder and executive director Saif Dhorajiwala.

The collaboration intends to evaluate and develop clean and sustainable energy offerings for businesses in line with growing demand for environmentally responsible alternatives and the national transition towards a greener economy. MGL indicated that the partnership reflects its continued focus on expanding a clean energy portfolio and contributing to sustainable development through innovative energy solutions. The company noted that it already supplies cleaner fuel to industries and commercial establishments and that the MoU will enable it to broaden its range of offerings for customers seeking lower carbon options.

Under the memorandum, both parties will jointly assess opportunities in renewable generation and supply, leveraging their respective technical and commercial capabilities to meet evolving energy requirements of commercial and industrial consumers. FPEL described the broader market shift towards decarbonisation and the growing preference among corporates for integrated energy portfolios that combine renewable power, battery storage and advanced energy management in place of sole reliance on the grid.

Both companies said the partnership is expected to help deliver reliable, cost effective and low carbon solutions that support customers in reducing their carbon footprint and improving energy resilience. The arrangement is presented as an initial step to explore tailored solutions for industry and commerce within MGL's network and to accelerate adoption of sustainable energy practices.