Coal India Limited (CIL) signed a memorandum of understanding (MoU), for setting up 1,190 MW solar power project, with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RVUNL). Aimed at an estimated cost of approximately INR 80,000 million, CIL's solar power project is slated to come up in RVUNL's 2,000 MW solar power park at Bikaner, in a phased manner, in the sunny state of Rajasthan. The solar park is approved under Ministry of New and Renewable Energy's scheme of Ultra Mega Renewable Energy Power Parks.

While the Rajasthan government would ensure handing over the possession of encumbrance and encroachment free land to CIL, the coal behemoth would set up the solar project on the allocated land. The aim is to kick start the solar project in 24 months. This is CIL's big ever solar power project planned till date almost 40% of its ambitious plan of establishing 3,000 MW capacity solar projects by fiscal year 2023-2024 under its net zero energy initiative.

The final implementation and investment plans would be worked out as the project progresses in phased manner. Grid connectivity would be facilitated by RVUNL. CIL has awarded 265 MW of solar power projects so far with 35 MW more to be concluded by the month end which would make a total of 300 MW.

The company has drawn up a target of adding 1,200 MW more in the upcoming financial year 2023-2024.