NLC India (NLCIL) and Coal India will invest $1.6bn in a joint venture to develop 3 GW of solar capacity in a project that also includes the creation of 2 GW of thermal capacity. The solar installations will be built, mainly on Coal India-owned land, within the next 15 months. “Solar is an important part of our strategy for reducing emissions from power generation as it can help us meet India
NLC India (NLCIL) and Coal India will invest $1.6bn in a joint venture to develop 3 GW of solar capacity in a project that also includes the creation of 2 GW of thermal capacity. The solar installations will be built, mainly on Coal India-owned land, within the next 15 months. The project will use NLCIL's technical expertise in both solar photovoltaic power and thermal power, according to a Coal India statement to the Bombay Stock Exchange.