The state-run Coal India Limited will set up a 100 MW plant and sell the generated power to Gujarat Urja Vikas Nigam Limited for 25 years.
In its maiden venture into solar power generation, Coal-India secured the 100 MW project in a 500 MW reverse auction, which was conducted by GUVNL, which saw the same generation capacity of TP Solaria of NTPC, Sprinz Energy, and Tata Power.
CIL has invested INR442 crore in the execution of this 100 MW project, which will complete through solar engineering, procurement, and construction (EPC) contractor. In a back-to-back arrangement, the coal company had already floated a tender to finalize the EPC company. Coal India said in a statement that the project would be executed within a year.
CIL has announced two new business units, CIL Solar PV and CIL Navikarnia Urja, this month, both units aiming to capitalize on growth opportunities in solar. CIL Solar PV Limited will manufacture ingots, wafers, cells and modules.
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