Coal news and updates

Coal India incorporates RE arm in Rajasthan

June 12: Coal India (CIL) has announced that Ministry of Corporate Affairs, GoI has issued certificate of incorporation of a subsidiary 'CIL Rajasthan Akshay Urja Ltd' for carrying out renewable energy business in Rajasthan, according to a BSE filing. The purpose of the acquisition is to develop, construct and operate the solar power projects, PSP projects and wind power projects or such other projects as may be mutually agreed between the parties in writing through a suitable model, and the company will undertake the business of selling the power generated from the projects to Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL). Earlier, CIL had signed a joint venture agreement with RRVUNL for renewable energy (RE) business in Rajasthan.