Coal India Limited has signed a joint venture (JV) agreement with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) to set up renewable energy projects in Uttar Pradesh. The JV will develop ground-mounted solar, floating solar, pumped storage, wind, and other renewable energy projects. It will also undertake the sale of power and related business activities. According to the agreement, Coal India will hold a 51 per cent stake in the JV, while UPRVUNL will hold the remaining 49 per cent.
Furthermore, the JV company will be incorporated as a private limited company with an initial paid-up capital of Rs 1 million and an authorised share capital of Rs 100 million. Additionally, the agreement provides pre-emptive rights for future share issuances to maintain the existing shareholding pattern and restricts the transfer of shares for five years, subject to the terms of the JV agreement.
Earlier, in July 2026, Coal India secured 600 MW (300 MW x 2) from the NHPC 1,200 MW of grid-connected solar projects from Bundelkhand Saur Urja Limited, a joint venture of NHPC Limited and Uttar Pradesh New and Renewable Energy Development Agency.
