In a statement released to the Bombay Stock Exchange Limited and the National Stock Exchange of India Limited, two Indian coal companies, NLCIL and CIL, say they have signed an MoU with the intention of forming a joint venture company to install 3 GW worth of solar power projects, and 2 GW of thermal power projects.
The understanding was signed on October 8 in the capital of west Bengal, Kolkata, at CIL’s headquarters, by Shri Nathella Naga Maheswar Rao, director (Planning & Projects), NLCIL and Shri Binay Dayal, director (Tech.), CIL, and in the presence of Shri Rakesh Kumar, CMD, NLCIL and Shri Anil Kumar Jha, CMD,CIL.
A spokesperson at NLCIL declined to provide pv magazine India with any further information, stating that more details will be available soon. CIL, meanwhile, could not be reached for comment.
According to a report in Yahoo News, a CIL official was quoted as saying, “This is a synergistic step, combining the resources of both the companies for a common goal. CIL will be riding the core technical expertise of NLCIL in thermal power generation and solar PV power.”