A New Spark: CIL and UPRVUNL Strike Gold in Green Energy

Coal India Ltd (CIL), the country’s largest coal producer, has approved the formation of a joint venture company (JVC) with UP Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) to develop renewable energy projects in Uttar Pradesh.

The decision was cleared by CIL’s Board and disclosed through a stock exchange filing. The proposed joint venture is subject to further approvals from the Uttar Pradesh government, the Department of Investment and Public Asset Management (DIPAM), and the Ministry of Coal.

Once established, the JVC will undertake the development, construction, operation, and maintenance of renewable energy projects, including solar and floating solar installations, pumped storage projects (PSPs), wind power projects, and other related activities. The venture will also engage in the sale of electricity in line with prevailing laws and policy frameworks.

Under the proposed equity structure, Coal India will hold a 51 percent stake in the joint venture, while UPRVUNL will own the remaining 49 percent. The collaboration represents a strategic step by CIL to diversify its portfolio and contribute to India’s renewable energy and energy transition objectives.

News by Rahul Yelligetti.