Mahanagar Gas Limited (MGL) and Fourth Partner Energy Pvt. Ltd. (FPEL) have inked an MOU to jointly evaluate prospects for production and supply of renewable energy to commercial and industrial consumers in territories covered by MGL.

The pact was signed by the two firms in Mumbai in the presence of senior officials from both companies.

As per the pact, the two companies will jointly look at developing renewable energy options for supplying renewable energy to commercial and industrial customers through the combined strengths of MGL in city gas distribution and the experience of FPEL in renewable energy.

Details of investment, capacity of projects, or timelines for implementation were not shared.

MGL is one of the largest gas distributors in India, providing CNG and PNG to consumers in Mumbai and nearby areas.

Renewable energy has gained popularity among commercial and industrial users due to the need to cut down electricity bills and carbon emissions.

MGL supplies piped gas to more than 30 lakh domestic customers and over 5,600 commercial and industrial premises. The company also delivers CNG to over 12 lakh vehicles at various filling stations under its umbrella.

Fourth Partner Energy focuses on developing renewable energy projects for commercial and industrial customers. Fourth Partner's portfolio comprises various kinds of renewable energy projects, including solar projects.

This agreement acts as a platform for both firms to explore potential renewable energy projects in the licensed area of MGL.