CIL-NLC JV to spend ₹12,000 crore on solar:

News:
  • According to some sources, Coal India Ltd. (CIL) and NLC India will jointly develop solar power assets of 3,000 MW with a likely investment of about ₹12,000 crore.
  • Both CIL and NLC are state run companies.
More in the news:
  • CIL and NLC said they would form a Joint Venture (JV) to develop 5,000 MW of solar and thermal power assets across the country.
  • A solar JV is already in process of formation with an initial capital of ₹10 lakh.
  • The government plans to impose 20% basic customs duty duty on imported solar panels to boost the domestic industry.
  • Solar developers have been largely dependent on Chinese equipment.
  • The thermal power project will be taken up by a separate JV after due diligence.
Posted by Jawwad Kazi on 5th Jul 2020
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