State-owned GAIL will invest Rs 6,000 crore in the next three years in renewables, a top official said on Monday.

The investment can go up by an additional Rs 20,000 crore by 2030, GAIL chairman and managing director Manoj Jain told reporters here.

GAIL director (finance) Rakesh Kumar Jain said the company, which reported a 112 per cent jump in FY22 post-tax net profit at Rs 10,364 crore, has outlined an overall capital expenditure plan of up to Rs 40,000 crore in the next five years, which will cover a wide array of areas.

This will entail borrowings of up to Rs 20,000 crore, while the rest will come from internal accruals, the director added.

The chairman said it is looking at almost 3 GW of renewables capacity by 2030, which will include 1GW to start within the next three years.

The company is undertaking a liquid hydrogen capacity addition right now and the progress done on the prototype will influence its overall investments.