Coal India's Solar Capex Surges to ₹961 Cr by Jan FY'26, Logs 2.33X Growth
Coal India's solar capex reached ₹961 Crores by January FY'26, a 2.33X growth over the previous year. The company aims for 3,000 MW of solar capacity by FY'28. Upcoming projects include 100 MW in Patan and 300 MW in Khavda, with plans to develop an additional 2,000 MW.
The substantial increase in capex towards solar energy and the ambitious targets for renewable capacity addition indicate a strategic shift and investment in a growing sector, which could have a medium-term impact on the company's diversification and sustainability profile.
The announcement highlights significant growth in solar capex, exceeding targets and demonstrating a strong commitment to renewable energy and diversification, which is positive for the company's future outlook.
Coal India Limited (CIL) has reported a significant increase in its capital expenditure for solar initiatives, reaching ₹961 Crores by the end of January FY'26. This represents a 132% achievement against the progressive target of ₹729 Crores set for the period, and also surpasses the FY'26 capex target of ₹957 Crores.
The capex on solar projects has seen a substantial year-on-year growth, more than doubling to 2.33 times compared to ₹412 Crores in the previous corresponding period. The cost of setting up 1 MW of solar capacity has also decreased, now ranging between ₹4 Crores to ₹4.5 Crores, down from the earlier ₹5.5 Crores to ₹6 Crores per MW.
CIL aims to become a Net-Zero entity by installing 3,000 MW of renewable solar capacity by FY'28. As of December 2025, the company and its subsidiaries have already established approximately 247 MW of renewable energy capacity, with projections to reach 675 MW by the close of the current fiscal year. Upcoming projects include a 100 MW solar power project in Patan and a 300 MW project in Khavda, both in Gujarat.
Furthermore, CIL is actively seeking an additional 2,000 MW of renewable energy capacity through its subsidiaries and joint ventures. This includes an 875 MW plant with Rajasthan Rajya Vidyut Utpadan Nigam Limited and a 500 MW capacity plant with Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited, to be developed in phases. The company has also invited bids for a 20 MW floating solar plant in Gorakhpur and is participating in Tariff-Based Competitive Bidding (TBCB) tenders for solar power development across various states. Battery Energy Storage System (BESS) is also being considered by CIL.
What to do with a filing like this
Coal India Limited filed this with the NSE as a statutory disclosure, categorised under capex. 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.