Coal India will set up a power plant as a joint venture

Coal India will invest 165 billion rupees to build a coal-powered 1,600 megawatt plant in Jharkhand, a state located in eastern India. This investment is needed to meet the growing demand for electricity.

On Monday, the state-owned company signed a nonbinding memorandum with Damodar Valley Corporation to build a plant that will consist of two 800 MW units. This plant will be an extension of an existing plant of 500 MW.

State-run company also plans to build two thermal power stations in central India's state of Madhya Pradesh, each with a 660-MW capacity. In the east, in Odisha state, a plant of 1,600-MW is planned. Both are due for completion in 2030.

India wants to boost its thermal power generation capacity to meet the growing demand for electricity in India. It also wants to increase its non-fossil energy capacity due to a weak tender demand and cancellations of projects.

Tata Power, JSW Energy, and Adani Group, private companies, are also interested in adding coal power capacity.

(source: Reuters)