Coal giants to build 3GW of solar in India
Coal India has been told to become a zero carbon company. Source: Vkramdeep Sidhu
Two of India’s coal giants will develop 3GW of solar in the country through a new joint venture company.
NLC India and Coal India will invest around US$1.6 billion to install the new capacity within the next 15 months. The new JV will be split 50:50 between the two parties.
Coal India has been set a mandate by the government to become zero carbon. Curiously the agreement also includes the construction of 2GW of thermal power assets.
The solar farms will, as much as possible, be built on existing barren land owned by Coal India.
"This is a synergistic step, combining the resources of both the companies for a common goal. CIL will be riding the core technical expertise of NLCIL in thermal power generation and Solar PV Power," an unnamed Coal India official was quoted as saying in a statement released to the Bombay Stock Exchange.
Also read...
-
Dominion Energy tests appetite for corporate PPAs ahead of 3GW tender
-
ROUND-UP: Akuo 50MW Mali financing, Spain self-consumption, European survey, CDPQ stake in Azure
-
Total Eren starts work on first 256.5MW of Kiamal project
-
PV ModuleTech 2018: Measuring new PV module technologies with Eternal Sun
-
Hanwha Q CELLS being sold back to Hanwha Chemical subsidiary for US$825 million
Comments