Coal India shuts solar manufacturing arm
Coal India Limited has announced the dissolution of its wholly-owned subsidiary, CIL Solar PV Limited, following its removal from the Register of Companies by the Ministry of Corporate Affairs (MCA) under the Companies Act, 2013.
According to the company’s regulatory filing, the MCA issued a notice on May 11, 2026, under Section 248(5) of the Companies Act, 2013, confirming that the subsidiary had been struck off and dissolved. Coal India said it received the notice on May 12, 2026.
The development follows an earlier disclosure dated April 20, 2026, indicating that the striking-off process was underway. No financial impact or specific reason for the dissolution was disclosed in the filing.
CIL Solar PV Limited had been established as a special purpose vehicle (SPV) for a proposed 4 GW solar photovoltaic (PV) manufacturing facility in India covering ingots, wafers, cells and modules. The initiative formed part of Coal India’s diversification strategy aimed at expanding beyond coal mining into integrated solar manufacturing and renewable energy development.
Coal India continues to pursue renewable energy expansion as part of its decarbonisation plans. The company has targeted installation of 3 GW of renewable energy capacity by FY2027-28 and 9.5 GW by FY2029-30 across India.
While the filing did not explicitly cite the rationale behind the closure, Coal India’s FY2025-26 investor presentation points toward a broader restructuring of its renewable energy portfolio. On June 9, 2025, the company incorporated CIL Rajasthan Akshay Urja Limited as a renewable energy joint venture with Rajasthan Urja Vikas Nigam Limited. Coal India holds a 74% stake in the venture, while Rajasthan Urja Vikas Nigam Limited (RVUNL) owns the remaining 26%. The formation of the joint venture indicates a strategic shift toward partnership-led renewable energy development instead of operating through a fully-owned solar manufacturing subsidiary.
Coal India also undertook several other strategic initiatives during FY2025-26. These included the listing of Bharat Coking Coal Limited and Central Mine Planning & Design Institute Limited on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in January and March 2026, respectively. The company further entered into a 50:50 joint venture agreement with Damodar Valley Corporation for development of a 1,600 MW brownfield supercritical thermal power project at Chandrapura in Jharkhand.
Coal India also expanded into critical minerals by securing the Kawalapur Rare Earth Element (REE) block in Maharashtra and signing a memorandum of understanding with Hindustan Copper Limited for collaboration in copper and critical minerals.
In renewable energy, the company reported that a 100 MW solar power plant at Patan had been connected to the grid as of March 31, 2026.
On the financial front, Coal India reported consolidated revenue from operations of Rs 1,68,400 crore for FY2025-26, compared to Rs 1,69,177 crore in the previous fiscal year. Consolidated profit after tax declined 12% to Rs 31,071 crore from Rs 35,450 crore in FY2024-25, partly due to a one-time provision of Rs 1,458 crore linked to executive pay scale revision. Total coal production during FY2025-26 stood at 768.19 million tonnes, compared to 781.05 million tonnes in the previous year.
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