Coal India Limited has signed its first power purchase agreement for the sale of 100 MW solar power to Gujarat Urja Vikas Nigam Ltd (GUVNL) for a period of 25 years.
In its maiden venture into solar power, CIL had won a 100 MW solar power project in a reverse auction conducted by GUVNL.
With a capital investment of Rs. 442 crores , CIL will execute the 100 MW project through a Solar EPC Contractor (engineering, procurement, and construction). In a back-to-back arrangement, CIL has already issued a tender in advance for finalizing a solar EPC contractor, which is in an advanced stage. The project will be executed within one year from the date of placement of the work order.
The MoU was signed via videoconferencing and B. K. Panda, Chief Manager (E&M), signed on behalf of CIL in Kolkata.
