Coal India unit to inject USD 839m into solar business
Dec 27, 2012 - Mahanadi Coalfields Ltd, part of Coal India Ltd (BOM:533278), intends to put INR 46 billion (USD 839m/EUR 634m) into the development of a solar business including the complete value chain, the company said during the 3rd Odisha Symposium in Bhubaneswar.
Speaking at the symposium held on December 21 and 22, Mahanadi Coalfields' finance director Kulamani Biswal said the company would invest in silicon making, solar module manufacturing and development of utility-scale solar facilities as well as all other components of the solar value chain.
The company is to deploy the quartz deposits it holds in the state of Odisha to make 6,000 tonnes of silicon at its new facility. It expects to be able to deliver silicon for solar facilities with a combined capacity of 1 GW, Biswal said.