Coal India Limited (CIL) has significantly boosted its investment in solar energy, reporting a capital expenditure of ₹961 Crores on solar initiatives by the end of January FY 2026. This represents a 132% achievement against the progressive target of ₹729 Crores. The current expenditure more than doubled the previous year’s figure, highlighting CIL’s aggressive pivot towards cleaner energy and its goal of becoming a Net-Zero entity by FY 2028.
CIL’s Aggressive Solar Investment Drive
Coal India Limited (CIL) is accelerating its focus on renewable energy, reporting that its capital expenditure (capex) on solar power initiatives has reached ₹961 Crores as of January FY 2026. This substantial investment showcases the company’s strategic commitment to scaling up alternative green energy sources.
The current spending level demonstrates 132% satisfaction against the progressive target set for January 2026, which stood at ₹729 Crores. Furthermore, the capex has already surpassed the full fiscal year 2026 target pegged at ₹957 Crores.
Significant Year-on-Year Growth
In a year-on-year comparison, the capex on solar until January 2026 has seen a massive surge, increasing by more than double, or 2.33 times, compared to the ₹412 Crores invested during the corresponding period previously.
A company executive noted that solar power is high on CIL’s diversification portfolio, stating, “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.”
The cost efficiency of new capacity is also improving; setting up 1 MW of solar capacity now costs between ₹4 Crores to ₹4.5 Crores, down from the earlier range of ₹5.5 Crores to ₹6 Crores per MW.
Roadmap to Net-Zero Capacity
CIL has set an ambitious target to become a Net-Zero entity by achieving an installation of 3,000 MW of renewable solar capacity by FY 2028.
Current and Near-Term Capacity Additions
- As of December 2025, CIL and subsidiaries have installed approximately 247 MW of renewable energy capacity.
- This is expected to increase to 675 MW by the close of the current fiscal year.
- Upcoming major additions include two large solar projects in Gujarat: 100 MW in Patan and 300 MW in Khavda.
Future Scouting and Bidding Activities
CIL is actively scouting for an additional 2,000 MW of Renewable Energy (RE) capacity through its subsidiaries and joint ventures. Key ongoing ventures include an 875 MW plant with Rajasthan Rajya Vidyut Utpadan Nigam Limited and a 500 MW capacity plant with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited.
Further, bids have been invited for a 20 MW floating solar plant in Gorakhpur. CIL is also participating in Tariff-Based Competitive Bidding (TBCB) tenders across various states, and the Battery Energy Storage System (BESS) is also a key area of focus.
Source: BSE
