CIL solar capex rises to Rs 961 crore by January 2026
Author: PPD Team Date: February 17, 2026
Coal India Limited (CIL) has reported capital expenditure of Rs 961 crore on solar energy projects as of January 2026, marking a 2.33 times increase over the corresponding period last year. The company achieved 132% of its progressive target of Rs 729 crore for the period and exceeded its full-year solar capex target of Rs 957 crore for FY 2026.
According to the company’s latest filing with stock exchanges, the solar sector expenditure reflects CIL’s strategic focus on expanding its renewable energy portfolio. The investment surge comes as solar installation costs have declined, currently ranging between Rs 4 crore to Rs 4.5 crore per megawatt, compared to the earlier Rs 5.5 crore to Rs 6 crore per MW range.
A senior executive said solar energy forms a central part of the company’s diversification plan. CIL is participating in solar auctions while also developing projects directly. The executive noted that solar will have a significant role in the future energy mix and that the company is positioning itself accordingly.
CIL has set a target to achieve Net-Zero status by installing 3,000 MW of renewable solar capacity by FY 2028. As of December 2025, CIL and its subsidiaries had commissioned around 247 MW of renewable capacity. This is expected to increase to 675 MW by the end of the current financial year.
Planned additions include two projects in Gujarat: a 100 MW plant in Patan and a 300 MW project in Khavda. The company is also pursuing 2,000 MW of renewable capacity through subsidiaries and joint ventures.
These include an 875 MW project with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) and a 500 MW phased project with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL). CIL has also floated a tender for a 20 MW floating solar plant in Gorakhpur.
In addition, CIL is participating in Tariff-Based Competitive Bidding (TBCB) tenders for solar projects across several states and is assessing opportunities in Battery Energy Storage Systems as part of its renewable strategy.
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