Coal India Doubles Solar Investment, Exceeds FY26 Targets | Renewable Energy News

Coal India Limited (CIL) has significantly increased its investment in solar power projects, exceeding both its progressive and full-year targets for the fiscal year 2026. The state-run miner reported a capital expenditure of ₹961 crore on solar initiatives as of January, more than doubling the ₹412 crore spent during the same period last year.

The current spending represents 132 percent of the progressive target of ₹729 crore set for January 2026, and surpasses the full-year FY26 capex target of ₹957 crore, according to a company statement. This surge in investment underscores CIL’s commitment to diversifying its energy portfolio and scaling up renewable energy capacity.

“Solar power lists high on CIL’s diversification portfolio. Among the cleaner energy sources, solar will play a pivotal role in future and we are laying the groundwork to remain relevant in the country’s energy sector,” a senior CIL executive stated.

CIL has established a goal of installing 3,000 MW of renewable solar capacity by FY28 as part of its broader strategy to achieve net-zero emissions. As of December 2025, CIL and its subsidiaries had installed approximately 247 MW of renewable energy capacity. This figure is projected to rise to 675 MW by the end of the current fiscal year.

Currently underway are two major solar power projects in Gujarat: a 100 MW plant in Patan and a 300 MW project in Khavda. Beyond these, CIL is actively seeking to secure around 2,000 MW of additional renewable energy capacity through subsidiaries and joint ventures.

These prospective projects include an 875 MW plant in collaboration with Rajasthan Rajya Vidyut Utpadan Nigam Limited and a 500 MW capacity plant being developed in phases with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited. Bids have been solicited for a 20 MW floating solar plant in Gorakhpur.

CIL is also participating in Tariff-Based Competitive Bidding (TBCB) tenders for solar power development across various states. The company is also exploring the integration of Battery Energy Storage Systems (BESS) into its renewable energy infrastructure. The cost of establishing 1 MW of solar capacity has decreased to between ₹4 crore and ₹4.5 crore, down from ₹5.5 crore to ₹6 crore per MW previously.