CIL (Coal India Ltd) has received approvals from NITI Aayog, DIPAM for solar wafer manufacturing & the greenfield aluminium projects. Company has made its market assessment report & plans for special purpose vehicle (SPV). To invest in different fields company is planning to incorporate with the private players & bid will be on the lines of the UMPP (Ultra Mega Power Project) model in which CIL will hold 26% of equity stakes for both 10 GW solar manufacturing & 1 million tonnes per annum refinery & 0.5 million tonnes per annum smelter proposed for the aluminium greenfield project. Coal India Ltd has allotted Rs.26,000 crores for solar wafer manufacturing & Rs.38,000 crores for the aluminium smelting greenfield project.
In addition to this CIL also plans to join Solar Energy Corporation of India (SECI) for a solar power generation project in a JV with Neyveli Lignite Corporation once it gets approval.
Coal India has a target of investment of Rs 2.69 lakh crore spanning from clean coal technologies, and coal mining with a focus on 50 percent of Investment in new business areas.