CIL forms subsidiary to carry out renewable energy biz in Rajasthan

New Delhi, Jun 12 (PTI) State-owned CIL on Thursday announced formation of a subsidiary 'CIL Rajasthan Akshay Urja Ltd' for carrying out renewable energy business in Rajasthan.

In a filing to the BSE, Coal India Ltd (CIL) said the "Ministry of Corporate Affairs, has issued certificate of incorporation to CIL Rajasthan Akshay Urja Ltd." The coal ministry had in January conveyed the approval of DIPAM for formation of JV of CIL and RVUNL.

Talking about the development, the company said the arm aims "to develop, construct and operate the solar power projects, PSP projects and wind power projects or such other projects... and the company will undertake the business of selling the power generated from the projects to RVUNL." CIL accounts for over 80 per cent of domestic coal production. PTI SID TRB