Coal India targets 5 GW of solar capacity by 2024
The Indian state-owned coal mining company Coal India Ltd (CIL) plans to invest INR56.5bn (US$760m) by March 2024 to build 14 rooftop and ground-mounted solar power projects with a total capacity of 3,000 MW to power its mining operations. The coal mining company would finance nearly 2/3 of this investment and has created a joint venture with the power generation company NTPC to finance the rest of the solar project. In addition, CIL has signed a deal with Solar Energy Corporation of India for solar projects of 1,000 MW each.
In addition, the state government of Andhra Pradesh plans to float tenders for 10,000 MW capacity solar power plants in a phased manner under the build-operate-transfer (BOT) model. These solar power plants would be developed in different part of the state to ensure free power to the agricultural sector for the next three decades.
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