By 2027, coal CPSEs will increase their capacity for renewable energy to 7231 MW

4 Aug 2023 , 11:02 AM

According to a formal statement released on Thursday, coal PSUs intend to increase their total installed renewable energy capacity to 7,231 MW by 2027. Up till March 2023, the PSUs Coal India Ltd (CIL), NLC India Ltd (NLCIL), and Singareni Collieries Company Limited (SCCL) have already produced about 1,600 MW of renewable capacity.

Coal PSUs have set an investment plan of Rs 2.5 lakh crore, according to Union Coal and Mines Minister Pralhad Joshi, for the development of renewable energy (projects), the installation of clean coal technologies, and the development of new mines.

The Coal Ministry stated in a statement that ‘CPSEs would achieve 7,231 MW RE capacity by 2027. In order to install 3000 MW and 3,731 MW of renewable energy capacity, respectively, CIL and its subsidiaries and NLCIL have plans. CPSEs are urged to carefully prepare a net zero strategy for the coal mining sector in accordance with the Prime Minister’s Panchamrit promise.

Coal PSUs have painstakingly created a three-year action plan defining detailed renewable targets in accordance with the national commitment.

The Government of Telangana and the Government of India jointly own SCCL on a 51:49 equity basis. SCCL has also planned to install 550 MW by the targeted year.

The overall amount of RE projects awarded for this fiscal year, 2023–2024, is 1,769 MW. CIL and NLCIL each allocated 399 MW and 1370 MW of this total. The PSUs want to grant 2,553 MW more capacity in 2024–2025, with 1110 MW coming from NLCIL and 1443 MW from CIL.

Additionally, CIL and NLCIL intend to build sizable solar farms in Gujarat and Rajasthan.

Tata Power has already been given a contract by NLCIL for a 300 MW solar power project, which is scheduled to be finished in 18 months. A 300 MW solar park has also been awarded a contract by NLCIL, along with another 300 MW solar park that will likely be built in Gujarat under a green shoe option.

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