Reportedly, Mahanadi Coalfields Limited (MCL) is planning to invest Rs 649 billion across thermal power, renewable energy, and coal-to-chemical segments as part of its diversification strategy.
The largest share of the investment, Rs 400 billion will be directed towards setting up a 4,000 MW thermal power plant in partnership with Coal India Limited and the energy department of Odisha. In the renewable energy segment, MCL has proposed three major projects namely, a 2,000 MW ground-mounted and floating solar project for Rs 120 billion, a 500 MW pumped storage power plant of Rs 50 billion and a 100 MW wind power project for Rs 9 billion. MCL has already installed 52 MW of ground-mounted and 2.5 MW of rooftop solar capacity.