Coal India Partners with Neyveli Lignite Corporation to Develop 3,000 MW of Solar Projects


Coal India Partners with Neyveli Lignite Corporation to Develop 3,000 MW of Solar Projects

Coal India Limited (CIL) and Neyveli Lignite Corporation India Limited (NLCIL) have signed a Memorandum of Understanding (MoU) to form a joint venture (JV) company for solar power generation of 3,000 MW as well as thermal power projects totaling 2,000 MW.

The solar projects will be set up across 15,000 acres on the barren and reclaimed free land of Coal India and the estimated cost for CIL’s solar power generation is approximately ₹120 billion (~$1.62 billion).

The projects would be financed through a debt equity ratio of 70:30, according to the Central Electricity Regulatory Commission (CERC) norms. Read More

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