Coal India’s Solar Capex Hits INR 961 Crore till Jan FY26, Marks 2.33 Fold Jump
Coal India’s solar capex reached INR 961 crore by January FY26, exceeding its FY26 target of INR 957 crore and marking a 2.33-fold increase over INR 412 crore in the previous year.
February 17, 2026. By Mrinmoy Dey
This is 132 percent target satisfaction against the progressive target of INR 729 crore till January 2026. In the process, it had also surpassed FY 2026, capex target, under solar projects, which was pegged at INR 957 crore, the company said in a statement.
On a year-on-year comparison, the capex on solar till January 2026 surged ahead by more than double to 2.33 times against INR 412 crore, it said.
Currently, the cost of setting up 1 MW of solar capacity hovers around INR 4-4.5 crore, which is a slide down from earlier INR 5.5-6 crore per MW.
“Solar power lists high on CIL's diversification portfolio. Among the cleaner energy sources, solar will play a pivotal role in future, and we are laying the groundwork to remain relevant in the country's energy sector. We are actively participating in solar auctions, as well,” said a senior executive of the company.
CIL is aiming to be a Net-Zero entity through the installation of 3,000 MW of renewable solar capacity by FY 2028.
Till December 2025, CIL and its subsidiaries have set up renewable energy capacity installation of around 247 MW, which is expected to go up to 675 MW by the current fiscal's closure. The upcoming capacity addition includes two major solar power projects in Gujarat, 100 MW in Patan and 300 MW in Khavda.
Beyond these projects, CIL is also actively scouting for 2,000 MW of RE capacity in the near term through its subsidiaries and joint ventures. One is a 875 MW plant with Rajasthan Rajya Vidyut Utpadan Nigam, and the other is a 500 MW capacity plant through Uttar Pradesh Rajya Vidyut Utpadan Nigam, in a phased manner. Further bids have been invited for a 20 MW floating solar plant in Gorakhpur.
Additionally, CIL is taking part in Tariff-Based Competitive Bidding (TBCB) tenders for solar power development across multiple states. Battery Energy Storage System (BESS) is also on the company's radar, the company stated.
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