New Delhi: Coal India Limited (CIL) on Thursday said it has emerged as a successful bidder for a solar power project in Gujarat.
"In the e-auction held on January 25, 2024, Coal India Limited bagged 300 MW capacity of Gujarat Industrial Power Corporation Ltd, RE park of 600 MW capacity at Khavda, grid-connected SPV Project," the Maharatna firm said in a statement.
GUVNL invited the bids for the procurement of 600 MW of grid-connected solar power projects. These projects will be located at the solar park owned by Gujarat Industries Power Company (GIPCL) in Khavda, Gujarat.
GUVNL will enter into a power purchase pact for a period of 25 years with Coal India Ltd. The order is to be executed in 15 months from the date of the power purchase agreement.
Coal India accounts for over 80 percent of domestic coal output. The company is focusing on renewable energy, including solar, as a step towards diversification.