Coal India, RVUNL Form JV for Renewable Energy Projects in Rajasthan
Coal India Ltd. and Rajasthan Rajya Vidyut Utpadan Nigam Ltd. have established a joint venture, CIL Rajasthan Akshay Urja Ltd., to spearhead solar, wind, and pumped storage projects in Rajasthan as part of Coal India’s 5 GW renewable energy push by 2028.
June 16, 2025. By Mrinmoy Dey
In the newly formed JV company CIL Rajasthan Akshay Urja Ltd., Coal India will hold 74 percent stake while RVUNL will have 26 percent stake, the company stated in a regulatory filing.
The two companies signed the JV agreement in September 2024 and the formation of the JV company got approval from DIPAM in January 2025.
Coal India is gradually ramping up its renewable energy capacity to diversify its energy sources and reduce its reliance on coal.
In May 2025, Coal India signed an MoU with UP Rajya Vidyut Utpadan Nigam Ltd. (UPRVUNL) to set up a 500 MW solar power plant in Uttar Pradesh.
In February 2025, Coal India signed a non-binding Term Sheet with EDF India to form a joint venture for developing and operating Pumped Storage Projects (PSP) and other hydro projects.
Coal India is developing a 1,190 MW solar power plant in Bikaner, Rajasthan. For this, Coal India formed a JV with Rajasthan Rajya Vidyut Utpadan Nigam (RVUNL). The plant will be part of a 2,000 MW solar park in Poogal, Bikaner.
Overall, Coal India's renewable energy target is to add 5 GW of capacity by 2028.
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