Announced Fri, 3 Jul · 21:43 IST
Coal India signs JV with UPRVUNL for renewable energy projects in UP
COALINDIA · price
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Price reaction · full curve 14 horizons · vs prior close
-2.7%1-day move
₹439.20
prior close
₹438.70
base price
After-mkt
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AI summary
Coal India (CIL) has signed a joint venture agreement with U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on 3 July 2026 to set up renewable energy projects in Uttar Pradesh. Projects will include ground-mounted solar, floating solar, pumped storage and wind projects. CIL will hold 51% and UPRVUNL 49% in the new JV company, to be registered in Lucknow as a private limited company. Initial paid-up capital is INR 10 lakh and authorised capital is INR 10 crore.
Likely market impact
Gives Coal India a foothold in renewable energy through a state partnership, diversifying beyond coal with a majority-owned entity.