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Coal India wants to take part in solar energy auctions: Chairman

Coal India Ltd, the world's largest coal miner, could venture into solar wafer manufacturing

Coal India
Reuters CHENNAI
1 min read Last Updated : Mar 23 2021 | 4:18 PM IST

CHENNAI (Reuters) - Coal India Ltd, the world's largest coal miner, could venture into solar wafer manufacturing and wants to "aggressively" participate in the country's solar energy auctions, its chairman told Reuters on Tuesday.

"Coal as you know, we're going to lose business in the next two-three decades. Solar will take over coal slowly as a major energy provider in the coming years," Pramod Agarwal said in an interview.

"We are just exploring the possibilities where we can invest in solar wafer production, nobody is (currently) there in the country," he said.

Agarwal also said its joint venture with state-run NLC India Ltd plans to invest around 125 billion rupees ($1.73 billion) in solar power projects with a capacity of 3,000 megawatts (MW), of which Coal India would invest about 60 billion rupees by March 2024.

($1 = 72.4450 rupees)

 

(Reporting by Sudarshan Varadhan; Editing by Susan Fenton)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Topics :Coal India

First Published: Mar 23 2021 | 4:12 PM IST

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