MCL to invest Rs 649 billion in clean and thermal energy

Mahanadi Coalfields Limited (MCL) is scaling up its presence in Odisha’s energy sector with a major investment plan of Rs 649 billion. The company aims to diversify beyond coal and enter both renewable and thermal power segments.

At the core of this strategy is a 2,100 MW renewable energy expansion in Odisha. This includes 2,000 MW of ground-mounted and floating solar power, backed by an investment of Rs 120 billion. Additionally, MCL is planning a 100 MW wind power project, estimated to cost Rs 9 billion.

The company is also considering a 500 MW pumped storage power plant, which could see an investment of around Rs 50 billion. These new projects build on MCL’s existing renewable assets, which include 52 MW of ground-mounted and 2.5 MW of rooftop solar capacity.

However, the largest investment share—Rs 400 billion—will go to a 4,000 MW thermal power plant. This project will be developed in partnership with Coal India Limited and the energy department of Odisha.

MCL’s investments reflect a broader shift in India’s coal sector as state-run companies look to balance fossil fuel operations with clean energy expansion.