Date | July 4, 2016: State-owned mining major Coal India Ltd (BOM:533278) said last week it has entered into agreements with the Solar Energy Corporation of India Ltd (SECI) for the execution of two solar projects in Madhya Pradesh state totalling 200 MW.
Under the terms of the deals, Coal India’s subsidiaries Northern Coalfields Ltd (NCl) and South Eastern Coalfields Ltd (sEcL) will buy the electricity generated by the said plants.
Each contract concerns a 100-MW project whose total cost is estimated at INR 6.5 billion (USD 97m/EUR 87m).
In late 2014, Coal India and SECI signed a pact for the addition of roughly 1,000 MW of solar power capacity in different parts of the country, including the states of Andhra Pradesh and Telengana. The capacity is to be deployed in a phased manner.
(Source: http://renewables.seenews.com/)