India’s largest coal producer, Coal India (CIL), has approved the incorporation of a joint venture company (JVC) with UP Rajya Vidyut Utpadan Nigam (UPRVUNL) to develop renewable energy projects in Uttar Pradesh.

The decision, approved by CIL’s Board and announced through an exchange filing, is subject to further approvals from the state government, the Department of Investment and Public Asset Management (DIPAM), and the Ministry of Coal. The JVC will focus on the development, construction, operation, and maintenance of various renewable energy projects, including solar, floating solar, pumped storage projects (PSP), wind energy, and related activities, along with the sale of power in accordance with applicable laws and policies.

The proposed shareholding structure of the joint venture will see Coal India holding 51 percent equity, while UPRVUNL will hold the remaining 49 percent. This collaboration marks a strategic move by CIL to diversify into clean energy and support India’s renewable energy expansion goals.