Coal India plans 1 GW of domestic solar development

• 9 years ago (2014-09-27)
• Junior Isles

Renewables 757

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Coal India Limited, the world’s largest coal mining company, is in talks with the Indian Ministry of New and Renewable Energy (MNRE) to develop solar plants totalling 1000 MW in capacity.

Coal India is planning to invest $1.2 billion in the programme and site identification across all Indian states is already under way.

The planned plants will begin fulfilment of Prime Minister Narendra Modi’s ambitious plan to provide a reliable power grid for homes and industry across India, with $100 billion planned for renewable energy including solar and wind.

Another Indian coal firm, Neyveli Lignite Corporation, also recently announced plans to invest $80 million to develop 80 MW of wind and solar power capacity.

India’s government is also hoping to help support Indian solar PV manufacturers by mandating public sector companies to set up the projects and encouraging domestic sourcing of new equipment.

India has offered further renewables support this year by doubling the tax on coal mined or imported into the country, with the revenue generated financing the National Clean Energy Fund (NCEF) supporting renewable energy and environmental projects.