CIL to set up 3 GW solar power projects at Rs 56.50 billion by 2023-24

Coal India Limited (CIL) plans to set up 14 rooftop and ground-mounted solar power projects of 3,000 MW capacity by 2023-24 at an investment of about Rs 56.50 billion.  

In addition, while Rs 36.50 billion would be invested through CIL’s capex till 2023-24, the rest would be met through joint venture (JV) models that it intends to pursue for this initiative. CIL has been mandated by the Ministry of Coal to become a net-zero company and solar power initiative is a part of CIL’s diversification plans. Further, CIL has a JV with NLC India named Coal Lignite Urja Vikas Private Limited to develop 1,000 MW solar power projects. It also has a JV with NTPC and an MoU with the Solar Energy Corporation of India for solar projects of 1,000 MW each, the progress of which is being worked out individually.