Coal India & UPRVUNL Sign JV Agreement for Renewable Energy Projects
Coal India Limited (CIL) and U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) signed a JV agreement on July 3, 2026, for renewable energy projects in Uttar Pradesh. The JV will have an initial paid-up capital of ₹10 lakh and authorized capital of ₹10 crore. CIL will hold 51% stake and nominate the Chairperson and 3 directors.
The JV is significant as it represents a strategic move into renewable energy, which is a growth area. However, the initial capital is relatively small, suggesting a phased approach, hence the medium impact.
The formation of a joint venture for renewable energy projects is a positive development, indicating expansion and diversification into a growing sector.
Coal India Limited (CIL) has entered into a Joint Venture (JV) agreement with U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on July 3, 2026, to establish renewable energy projects in Uttar Pradesh. The JV aims to develop projects including Ground Mounted Solar, Floating Solar, Pumped Storage Projects, and Wind Projects, along with associated power sales and business activities.
The JV agreement stipulates that the Joint Venture Company will be incorporated as a Private Limited Company with its registered office in Lucknow, Uttar Pradesh. The initial paid-up capital will be ₹10 lakh (1 million rupees) and the authorized share capital will be ₹10 crore (100 million rupees). The Board of Directors will consist of five members, with CIL nominating three directors and UPRVUNL nominating two. CIL will also nominate the Chairperson of the Board. CIL will hold a 51% stake in the JV, while UPRVUNL will hold 49%.
Significant terms include CIL's right to appoint directors, a first right to share subscription in case of new share issuance, and restrictions on capital structure changes. There is a lock-in period of 5 years on share transfers, subject to the Joint Venture Agreement (JVA) terms. Both CIL and UPRVUNL are Central and State Public Sector Enterprises, respectively, and the transaction is not considered a related party transaction. CIL will have the right to nominate 3 Directors and UPRVUNL will have the right to nominate 2 Directors on the Board. CIL shall nominate the Chairperson.
What to do with a filing like this
Coal India Limited filed this with the NSE as a statutory disclosure, categorised under joint ventures. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Coal India Limited. Read the original for the full detail.