InvestorQ : Why is Coal India investing into the solar projects in a big way?
Riya Dwivedi made post

Why is Coal India investing into the solar projects in a big way?

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shrinidhi Rajan answered.
7 months ago
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Coal India is reportedly investing Rs.5650 crore over the next 3 years to build 14 solar projects to power its mining operations and cut costs. The plan will be entirely funded through internal resources. Currently, power cost accounts for 4.5% of its annual cost and that will get cut drastically.

Despite a virtual monopoly over coal mining, the company has suffered from tardy coal policy and its output in the current year had fallen for the first time in FY20 to 603 MT. By FY24, Coal India proposes to raise its annual output to 1 billion MT.
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