Coal India inks pact with RVUNL for 1190 MW solar power project

17 Oct 2022 , 09:16 AM

Coal India Limited (CIL) has signed a memorandum of understanding (MoU), for setting up 1,190 MW solar power project, with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL), the power generator of Rajasthan state.

Aimed at an estimated cost of approximately Rs8,000 crore, CIL’s solar power project is slated to come up in RVUNL’s 2,000 MW solar power park at Bikaner, in a phased manner, in the state of Rajasthan.

The solar park is approved under Ministry of New and Renewable Energy’s scheme of Ultra Mega Renewable Energy Power Parks.

“While the Rajasthan government would ensure handing over the possession of encumbrance and encroachment free land to CIL, the coal behemoth would set up the solar project on the allocated land. The aim is to kick start the solar project in 24 months”, the company said.

Further, the final implementation and investment plans would be worked out as the project progresses in phased manner. Grid connectivity would be facilitated by RVUNL.

On Monday early morning trade, Coal India Ltd is currently trading at Rs236.70 per share up by Rs0.4 or 0.17% from its previous closing of Rs236.30 per share on the BSE.

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