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<p>Coal India Limited (<a href="https://www.coalindia.in/" target="_blank" rel="noopener noreferrer">CIL</a>) has received approval from its board to venture into the solar power value chain and aluminum value chain.</p>
<p>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 &#8212; 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>
<p>Mercom earlier <a href="https://mercomindia.com/coal-india-report-solar-key-substitute/" target="_blank" rel="noopener noreferrer">reported</a> 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. &#8220;With 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,&#8221; the report observed.</p>
<p>Since then, the company has been engaged in solar capacity building, including large-scale solar, floating, and rooftop solar.</p>
<p>Last month, CIL <a href="https://mercomindia.com/coal-india-plans-invest-solar-projects/" target="_blank" rel="noopener noreferrer">announced</a> that it would invest ₹56.50 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>
<p>Subsequently, Bharat Coking Coal Limited, a subsidiary of CIL, <a href="https://mercomindia.com/coal-india-subsidiary-invites-bids/" target="_blank" rel="noopener noreferrer">invited</a> bids to develop 1.2 MW of grid-connected rooftop solar projects at 19 of its locations in Dhanbad, Jharkhand.</p>
<p>CIL has also <a href="https://mercomindia.com/coal-india-seeks-epc-contractors/" target="_blank" rel="noopener noreferrer">floated</a> 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>
<p>In November last year, CIL <a href="https://mercomindia.com/coal-india-invites-expression-interest-solar-project-chhattisgarh/" target="_blank" rel="noopener noreferrer">issued</a> an Expression of Interest to set up a 100 MW solar pilot project in Chhattisgarh for captive consumption to help it meet the government&#8217;s 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>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/rakesh-ranjan-parashar/" class="vcard author" rel="author"><span class="fn">Rakesh Ranjan</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Rakesh Ranjan,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener">More articles from Rakesh Ranjan.</a></p>
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<p><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/02/Rakesh-Headshot-crop-2.jpg" width="77" height="102" /><a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" target="_blank" rel="noopener"><strong style="color: #00b451">Rakesh Ranjan</strong></a> is a staff reporter at Mercom India. Prior to joining Mercom, he worked in many roles as a business correspondent, assistant editor, senior content writer, and sub-editor with bcfocus.com, CIOReview/Silicon India, Verbinden Communication, and Bangalore Bias. Rakesh holds a Bachelor’s degree in English from Indira Gandhi National Open University (IGNOU). <a href="https://mercomindia.com/author/rakesh-ranjan-parashar/" rel="noopener noreferrer">More articles from Rakesh Ranjan.</a></p>
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Coal India to Set Up Integrated Solar Wafer Manufacturing Facility

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