Coal India (CIL) has signed a memorandum of understanding (MoU) to set up a 1,190 MW solar power project with state power generator Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL).
The MoU, signed on Thursday, is the first of its kind for CIL for a solar power project with any state government. The Rajasthan government will hand over land for the project to the coal behemoth.
With an estimated cost of Rs 8,000 crore, the project is slated to come up in RVUNL’s 2,000 MW solar power park at Bikaner, in a phased manner. The solar park has been approved under the ministry of new and renewable energy’s scheme for Ultra Mega Renewable Energy Power Parks.
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The aim is to start the project in 24 months, a senior CIL executive said.
This is CIL’s biggest ever solar power project planned till date, and is almost 40% of its plan to set up 3,000 MW capacity solar projects by FY24 under its net zero energy initiative. The final implementation and investment plans will be worked out as the project progresses. Grid connectivity will be facilitated by RVUNL, the CIL executive said.
CIL has awarded solar power projects of 265 MW so far, with 35 MW more to be concluded by month-end. The company has set a target to add 1,200 MW more in FY24, the executive said.