Coal India Approves 51:49 Renewable Energy Joint Venture in Uttar Pradesh

India’s largest coal producer, Coal India Limited, has approved the incorporation of a joint venture company with UP Rajya Vidyut Utpadan Nigam Limited to develop renewable energy projects in Uttar Pradesh, marking a another step in the PSU’s clean energy diversification.

In an exchange filing, Coal India said its Board has accorded approval for setting up the joint venture, with Coal India holding a controlling 51 percent equity stake and UPRVUNL owning the remaining 49 percent. The name and date of incorporation of the JV will be announced in due course.

The formation of the joint venture is subject to approvals from the Government of Uttar Pradesh, the Department of Investment and Public Asset Management (DIPAM), and the Ministry of Coal.

Broad Renewable Energy Mandate

The proposed JV has been chartered to undertake the full lifecycle of renewable energy projects in Uttar Pradesh, including development, construction, operation, and maintenance.

Its project scope spans solar power, floating solar installations, pumped storage projects (PSP), wind energy, and allied activities.

Power generated from these projects will be sold in accordance with applicable laws and policy frameworks, the company said.

Strategic Diversification

The move underscores Coal India’s efforts to expand beyond its core coal business and build a presence in India’s rapidly growing renewable energy sector.

By partnering with the state-owned power generation utility of Uttar Pradesh, the JV aims to leverage local expertise and scale up clean energy capacity in the state.

Uttar Pradesh, India’s most populous state, has been steadily increasing its renewable energy footprint, with a growing focus on solar and emerging storage solutions such as pumped storage projects. 

By the end of December 2025, Uttar Pradesh has over 6.6 GW installed renewable energy capacity, with solar contributing over 3.8 GW.