Coal India plans to invest Rs. 5,650 cr in solar power projects

Coal India said it plans to set up 14 rooftop and ground-mounted solar power projects of 3,000 Mw capacity by 2023-24, which will entail an investment of Rs 5,650 crore.

Coal India (CIL) is mandated by the coal ministry to become a net zero carbon company. Solar power initiative is a part of CIL’s diversification plans, the PSU said in a filing to BSE.

The likely investment would be around Rs 5,650 crore, it said.

While Rs 3,650 crore is planned to be invested through CIL’s capex, till ‘2023-24, the rest would be met through joint venture models that the company intends to pursue for this initiative.