CIL Ventures Into Renewables with New Rajasthan Subsidiary

In a significant stride towards renewable energy, state-owned Coal India Limited (CIL) has announced the formation of a new subsidiary, 'CIL Rajasthan Akshay Urja Ltd'. The venture is poised to spearhead the development and operation of solar and wind power projects in Rajasthan.

The Ministry of Corporate Affairs has officially issued a certificate of incorporation for the new entity, as disclosed in a filing to the Bombay Stock Exchange (BSE). This move follows the coal ministry's approval of the joint venture between CIL and the Rajasthan Vidyut Utpadan Nigam Limited (RVUNL) earlier this year.

CIL, which contributes over 80 per cent of India's domestic coal production, is diversifying its portfolio to include renewable energy sources. The subsidiary will aim to sell the generated power from these projects to RVUNL, marking a strategic shift in the company's traditional business model.

(With inputs from agencies.)