October 10, 2018 Read More →

Indian coal companies to build 3GW of solar

The Economic Times:

Coal India and NLC India (NLCIL), formerly Neyveli Lignite Corporation, will jointly set up 5000 mw of power generation capacity of which 3000 mw would be solar powered while the rest 2000 mw would be coal fueled.

CIL and NCIL on Monday signed a memorandum of understanding (MoU) for setting up a 50:50 joint venture company that would undertake the projects.

Coal India has been tasked to become a net zero emission energy company by ministry of coal, a move which requires it to generate 3,000 mw of solar power. The MoU, also extends for setting up of 2,000 mw of thermal power generation across CIL’s subsidiaries.

Solar projects will be set up over 15,000 acres on identified barren and reclaimed free land of Coal India and also at locations where free land is available.

Estimated cost for Coal India’s solar power generation is pegged at Rs 12,000 crore.

The joint venture company will be scheduled complete the proposed solar projects and thermal projects within 15 months and 60 months respectively. The projects will be financed through debt equity ratio of 70:30 as per the CERC norms. A concept paper has been initiated by both the companies to get clearance from their respective boards. 

More: Coal India signs MoU with NLC for 5000 mw power generation 

Comments are closed.