February 18 (SeeNews) - State-owned mining major Coal India Ltd (BOM:533278) will soon start a tender for 800 MW of photovoltaic (PV) capacity, business daily The Economic Times said Thursday.
Investment in the solar complex is estimated at approximately INR 48 billion (USD 701m/EUR 629m), according to the report.
The coal producer recently initiated a competitive bidding process for 200 MW of solar power plants in consultation with domestic sector player Solar Energy Corp of India (SECI). Coal India plans to start working on all of the solar projects simultaneously.
The 1,000 MW of solar auctions are part of the company’s strategy to reduce its carbon footprint.
India has officially committed to boost its installed renewable energy capacity to 175 GW by 2022, including 100 GW of solar PV parks.
(INR 10 = USD 0.146/EUR 0.131)