CIL has signed an MoU with NLC India Limited for the formation of a joint venture (JV) company for setting up solar and thermal power projects aggregating 3,000 MW and 2,000 MW respectively. The projects, which will be financed by a debt-equity mix of 70:30, will have a cumulative investment of Rs 120 billion. Further, each of the companies will have an equity share of 50 per cent in the JV. The timelines for the completion of solar and thermal power projects are 15 months and 60 months respectively.
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