Coal India Limited has informed the Exchange about General Updates-Incorporation of CIL RAJASTHAN AKSHAY URJA LIMITED, a Subsidiary Company of Coal India Limited
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Coal India Limited has incorporated a new subsidiary named 'CIL Rajasthan Akshay Urja Limited' on 09.06.2025, as a joint venture with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL). Coal India holds 74% stake while RRVUNL holds 26%, with initial paid-up capital of Rs 10 lakh (CIL contributing Rs 7.4 lakh and RVUNL Rs 2.6 lakh). The authorized share capital is Rs 10 crore. The new company will develop, construct, and operate solar power projects, pumped storage projects, and wind power projects in Rajasthan, selling power to RVUNL and other entities. Government approvals from the Ministry of Coal and DIPAM were obtained in January 2025 for this JV formation.
This marks Coal India's formal entry into the renewable energy segment, diversifying beyond coal. While the initial capital outlay is small, the strategic significance is high as it positions the company to tap into India's growing clean energy market. Investors may view this positively as a step towards energy transition, though near-term financial impact will be limited given the early-stage nature of the venture.