CIL to set up 3 GW solar power projects

25 Nov 2020 CW Staff

State-owned Coal India plans to set up 14 ground-mounted and rooftop solar power projects of 3,000 MW capacities entailing an investment of Rs 5,650 crore by 2023-24.

Mandated by the coal ministry, Coal India (CIL) must become a net-zero carbon company. The PSU said in a filing to BSE that the solar power initiative is a part of CIL's diversification plans. It said that the investment would likely be around Rs 5,650 crore.

While the company plans to invest Rs 3,650 crore till 2023-24 through CIL’s capex, the rest that the company intends to pursue this initiative would be through joint venture models.

CIL is in discussions with NTPC Ltd for the purchase of 140 MW solar power besides its establishment of solar projects, under the Centre's CPSE scheme. This cumulatively adds up to a little over 3,000 MW by FY2024.

Between them, CIL’s subsidiaries have already identified 1,156 acres of land where they will set up 220 MW solar projects by the end of FY2022. NLC India Ltd and CIL have floated a joint venture entity named Coal Lignite Urja Vikas Private Ltd, synergising their efforts to develop 1,000 MW solar power projects.

CIL has also tied up an MoU with Solar Energy Corporation of India and a JV with NTPC for solar projects of 1,000 MW each.

Accounting for around 4.4 per cent of the revenue expenditure for the year, the solar power initiative has additionally helped CIL reduce a whopping Rs 3,400 crore in annual power consumption expense at the end of FY2020. The PSU said that any savings under the power bill would also bolster the bottom line of the company to that extent.

CIL would gradually peak up to 1,340 MW in 2023-24 after beginning with a modest 10 MW solar capacity during the ongoing fiscal year.

The solar power capacity addition is targeted at 1,293 MW for FY2023, with 220 MW capacity to come up in 2021-22.

CIL is eyeing to set up solar projects pan-India subject for 2022-23 and 2023-24 powering evacuation facility by central transmission utility. Having generated 4.6 million units in 2019-20 and 4.25 million units in 2018-19, solar power generation has already been commissioned by CIL and its subsidiaries. The company estimates that this amounts to a reduction in carbon dioxide emissions of over 3,000 tonne each year. By a little over 700 tonnes, one million units of solar power generation will bring down Co2 emissions.

State-owned Coal India plans to set up 14 ground-mounted and rooftop solar power projects of 3,000 MW capacities entailing an investment of Rs 5,650 crore by 2023-24.Mandated by the coal ministry, Coal India (CIL) must become a net-zero carbon company. The PSU said in a filing to BSE that the solar power initiative is a part of CIL's diversification plans. It said that the investment would likely be around Rs 5,650 crore. While the company plans to invest Rs 3,650 crore till 2023-24 through CIL’s capex, the rest that the company intends to pursue this initiative would be through joint venture models. CIL is in discussions with NTPC Ltd for the purchase of 140 MW solar power besides its establishment of solar projects, under the Centre's CPSE scheme. This cumulatively adds up to a little over 3,000 MW by FY2024. Between them, CIL’s subsidiaries have already identified 1,156 acres of land where they will set up 220 MW solar projects by the end of FY2022. NLC India Ltd and CIL have floated a joint venture entity named Coal Lignite Urja Vikas Private Ltd, synergising their efforts to develop 1,000 MW solar power projects. CIL has also tied up an MoU with Solar Energy Corporation of India and a JV with NTPC for solar projects of 1,000 MW each. Accounting for around 4.4 per cent of the revenue expenditure for the year, the solar power initiative has additionally helped CIL reduce a whopping Rs 3,400 crore in annual power consumption expense at the end of FY2020. The PSU said that any savings under the power bill would also bolster the bottom line of the company to that extent. CIL would gradually peak up to 1,340 MW in 2023-24 after beginning with a modest 10 MW solar capacity during the ongoing fiscal year. The solar power capacity addition is targeted at 1,293 MW for FY2023, with 220 MW capacity to come up in 2021-22. CIL is eyeing to set up solar projects pan-India subject for 2022-23 and 2023-24 powering evacuation facility by central transmission utility. Having generated 4.6 million units in 2019-20 and 4.25 million units in 2018-19, solar power generation has already been commissioned by CIL and its subsidiaries. The company estimates that this amounts to a reduction in carbon dioxide emissions of over 3,000 tonne each year. By a little over 700 tonnes, one million units of solar power generation will bring down Co2 emissions.

Infrastructure Urban

13 Oct 2025

Daikin Boosts Haryana’s Innovation Push with Rs 10 billion R&D Plan

Japanese multinational Daikin Industries has committed an investment of Rs 10 billion to set up a new research and development centre in Haryana. The proposed facility will focus on advanced technologies and sustainable industrial solutions, marking a significant boost to the state’s innovation and industrial ecosystem. The announcement follows the signing of a Memorandum of Understanding (MoU) in Osaka, Japan, during a visit by a Haryana government delegation held from October 6 to 8. The MoU was signed by Amit Kumar Agrawal, Commissioner and Secretary, Industries and Commerce Department, ..

Building Material

13 Oct 2025

Lloyds Metals to Build Rs 250 billion Steel Plant in Gadchiroli

Lloyds Metals & Energy Limited (LMEL) has announced an investment of Rs 250 billion aimed at transforming Gadchiroli in Maharashtra from a region once associated with the red corridor into a key industrial and growth hub. The company’s plans are centred on establishing an integrated steel production ecosystem, which will contribute significantly to regional development and employment. As part of its expansion strategy, LMEL is setting up a 4.5-million-tonne blast furnace in Gadchiroli, scheduled for completion by 2027–28, along with another 1.2-million-tonne facility in Chandrapur by 2029..

Infrastructure Urban

13 Oct 2025

UPI Crosses 500 Million Users, Fuels MSME and Digital Growth

The Unified Payments Interface (UPI) has achieved a new milestone, surpassing 500 million consumers and 65 million merchants across India. The platform, developed by the National Payments Corporation of India (NPCI), has expanded its reach to nearly 99 percent of the country’s pin codes, underlining its deep penetration into both urban and rural markets. According to a report by NPCI and the Boston Consulting Group (BCG) launched during the Global Fintech Fest 2025, UPI has evolved from being a digital payments mechanism into a key enabler of financial inclusion and small business growth. I..