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.
PV ModuleTech
Understand fully the technical and logistical supply chains that determine the production and performance of solar modules, including all related factors impacting quality, reliability & bankability.
Solar & Storage Finance Asia
Solar & Storage Finance Asia returning to Singapore for its 5th edition, will be the meeting point for developers, financiers and investors across the region. Explore in depth the opportunities of the different countries via case studies, business and financial models that will foster growth in the region with particular focus on Thailand, Philippines, Indonesia, Taiwan, Korea, Cambodia, Singapore, Malaysia & Vietnam. The programme has been designed to enable you to win business and understand new opportunities in the market. Key topics include floating solar, project finance for PPAs, modernization of the grid and strategies for structuring and designing hybrid deals.
Also read...
-
China’s Silk Road scoops up 49% stake in ACWA Power holding
-
ASIA ROUND-UP: Sunseap finance, Uzbekistan joins IFC scheme, Hanwha invests in Malaysia
-
Nicaragua finds foreign sponsors for 100MW solar project
-
Trina Solar touts in-house reliability tests for fifth consecutive ‘Top Performer’ awards
-
Decade-old Spanish PV portfolio refinanced via €207m placement
Comments