Coal India Signs Pact With DVC For ₹165 Billion Thermal Power Project

Coal India Ltd. on Monday said it has signed a non-binding memorandum of understanding with Damodar Valley Corporation, to set up two 800-megawatt coal-fired ultra-supercritical power plants in Jharkhand.

The brownfield project will expand the existing Chandrapura Thermal Power Station, which currently has a capacity of 2x250 MW, the company said in an exchange filing. The estimated cost for the project is ₹165 billion and the joint venture will have an equal 50:50 equity share.

Coal for the proposed plants will be sourced from nearby mines operated by Bharat Coking Coal Ltd. and Central Coalfields Ltd., both Coal India subsidiaries.

The memorandum also includes plans to explore further joint development of thermal and renewable energy projects, with or without storage, to meet growing demand in the Damodar Valley region.