Coal India signs 200 MW solar deal

Coal India, the world’s largest coal mining company, has announced a plan to achieve its ambitious solar power targets.

The company has signed agreements with the Solar Energy Corporation of India (SECI) to develop 200 MW of solar projects in the state of Madhya Pradesh.

As part of the deal, SECI is scheduled to call for bids and allocated projects on behalf of Coal India.

Power generated from the projects will be divided between two subsidiaries of Coal India Limited, Northern Coalfields Limited and South Eastern Coalfields Limited.

Coal India said that the projects will cost an estimated Rs 650 crore (£73 million) each.

Coal India has set a target of installing 1 GW of solar energy capacity across the country and will invest Rs 7,000 crore (US$752 million) to achieve the goal.

The target is the result of a directive by the central government to all major public sector companies to adopt solar energy targets.