Coal India Limited (CIL) has approved the incorporation of a joint venture (JV) company with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) for the development of renewable energy projects in Uttar Pradesh.
The proposed JV will operate in the energy sector and undertake the development, construction, operation and maintenance of renewable energy projects, including solar, floating solar, pumped storage projects and wind power, along with allied activities. The JV will be incorporated as a subsidiary of CIL, with Coal India holding a 51 per cent equity stake and UPRVUNL holding the remaining 49 per cent.