Coal India Ltd has established a subsidiary, CIL Rajasthan Akshay Urja Ltd, in joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Ltd (RRVUNL) to pursue renewable energy projects in Rajasthan.
The company announced that the Ministry of Corporate Affairs has issued a certificate of incorporation for CIL Rajasthan Akshay Urja Ltd, which is 74% owned by Coal India Ltd, with the remaining 26% held by RRVUNL.
CIL Rajasthan Akshay Urja Ltd will develop, construct, and operate solar, wind, pumped storage, and other renewable energy projects. The power generated from these projects will be sold to RRVUNL under Section 62 of the Electricity Act, 2003, or to other eligible entities.
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