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Coal India plans to invest Rs. 6,000 crore for solar energy

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Coal India is planning to invest Rs. 6,000 crore to set up 1,000 MW of solar power generation capacity over the next five to six years, according to reports.

Report says that the company will fund 70% of the project cost through debt, which will come from banks and the rest will be through internal resources.The coal producer is also looking at setting up floating solar panels on water bodies that are formed when a mine is closed down.

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“We have firmed up the technology for setting up floating solar panels on the shallow sides of these lakes, while the technology for setting up such panels on deep water is being worked out,” said another company executive. “1 MW of solar capacities on such water bodies will cost around Rs 4-5 crore and will require close to five acres of water surface.

Coal India has numerous water bodies under its command areas and we intend to use them for setting up floating solar panels,” he said.

This will be the first time in several years that Coal India will be raising debt from the market. The World Bank had sanctioned a $1-billion loan for Coal India in the 1990s which has long been paid back.

One thought on “Coal India plans to invest Rs. 6,000 crore for solar energy

  • November 10, 2015 at 5:53 am
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    India is water shortage. So Floating Solar Plant’s wonderful idea for India. And it’s very important to maintain effectively same direction and position on the water for floating solar plants. Because directional change of solar panels reduces electricity production. So floating solar plants also need the directional control mooring systems for their parked positions. Azimuth and position change of floating solar plants caused by wind, waves and external forces. Restoring Force Strengthened Mooring System for floating solar plants has been created by INIWORLD in South Korea. This Mooring System generates Restoring Force immediately when floating solar plants are being rotated or moved on the water.

    In addition, you have to reduce vibration to install floating solar plants. Because, it can make micro-cracks to floating solar panels and the durability problem of floating solar plants. The risk of power loss in PV modules due to micro cracks is increasing. Vibrations caused by wind, waves and external forces. New Type Floating Body Stabilizer has been created in South Korea. The Floating Body Stabilizers generate drag force immediately when floating solar plants are being rolled, pitched and yawed on the water. You can see them in Ochang Dam natural reservoir, South Korea. I N I WORLD

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