Coal India Limited (CIL) has received approval from its board to venture into the solar power value chain and aluminum value chain. <\/p>\n
In a BSE filing, the coal giant said that the board has approved the creation of a special purpose vehicle (SPV) to set up an integrated solar wafer manufacturing facility to boost the solar value chain. It will also set up an integrated aluminum complex \u2014 a greenfield project of Central Coalfields Limited (CCL), a CIL subsidiary. The company is also planning to start a new and renewable energy business vertical. <\/p>\n
Mercom earlier reported that the Coal Vision 2030 report, commissioned by Coal India, it was emphasized that solar could soon become the substitute for coal-fired power in the country. \u201cWith the increasing threat of climate change impacting humanity and the global funding focus on renewables, it is a matter of time when the alternate clean energy would displace coal. To complicate matters further, immediate events such as short-term price movements, out of line with the dominant trend since 2008, have given people the ammunition to argue against a wider and over-arching trend,\u201d the report observed. <\/p>\n
Since then, the company has been engaged in solar capacity building, including large-scale solar, floating, and rooftop solar. <\/p>\n
Last month, CIL announced that it would invest \u20b956.50 billion ($763 million) by March 2024 to develop 14 solar power projects to help power its mining operations. As per the report, the state-owned company will fund nearly two-thirds of the total capacity of 3 GW of rooftop and ground-mounted solar projects. The company would also enter into a joint venture with NLC India and fund the rest of its solar expansion plans. <\/p>\n
Subsequently, Bharat Coking Coal Limited, a subsidiary of CIL, invited bids to develop 1.2 MW of grid-connected rooftop solar projects at 19 of its locations in Dhanbad, Jharkhand.
\nCIL has also floated bids for the empanelment of engineering, procurement, and construction contractors for ground-mounted and floating solar power projects being developed by it and its subsidiaries. <\/p>\n
In November last year, CIL issued an Expression of Interest to set up a 100 MW solar pilot project in Chhattisgarh for captive consumption to help it meet the government\u2019s solar target. The government expects the coal producer to become a net-zero energy company by setting up 3 GW of solar power projects in the country.<\/p>\n","protected":false},"excerpt":{"rendered":"
Coal India Limited (CIL) has received approval from its board to venture into the solar power value chain and aluminum value chain. In a BSE filing, the coal giant said that the board has approved the creation of a special purpose vehicle (SPV) to set up an integrated solar wafer manufacturing facility to boost the solar value chain. It will also set up an integrated aluminum complex \u2014 a greenfield project of Central Coalfields Limited (CCL), a CIL subsidiary. The company is also planning to start a new and renewable energy business vertical. Mercom earlier reported that the Coal Vision […]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[132],"tags":[],"class_list":["post-392159","post","type-post","status-publish","format-standard","hentry","category-power"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/392159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=392159"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/392159\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=392159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=392159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=392159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}