Comments
Coal India Ltd has signed a 25-year power purchase agreement for sale of 100 MW solar power to Gujarat Urja Vikas Nigam Ltd (GUVNL).
In its maiden venture into solar power, CIL had, in March this year, won a 100-MW solar power project in reverse auction conducted by GUVNL.
EPC tender floated
The ₹442-crore project will be executedthrough a solar EPC contractor.
In a back-to-back arrangement, CIL has already issued a tender in advance for finalis the contractor. The project will be executed within one year from the date of placement of the work order.
The country’s largest coal miner is betting big on solar power generation with a view to diversify its portfolio. Plans are afoot to generate close to 3,000 MW of solar power by 2024 at an estimated investment of around ₹13,500 crores through internal accruals, Special Purpose Vehicles (SPV) and bank loans.
Shift to clean energy
To accelerate its entry into development of cleaner renewable energy sources, CIL has added two more fully-owned subsidiaries - CIL Navikarniya Urja Ltd’ and ‘CIL Solar PV Ltd’ to its fold in April this year.
“Solar will replace coal as a key energy provider in future and we are laying the groundwork to remain relevant in the country’s energy sector. We plan to venture into solar power generation in a big way,” the executive said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.