Lucknow: Coal India Limited (CIL) and Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on Friday signed a joint venture agreement to develop renewable energy projects across Uttar Pradesh, a step towards strengthening the state’s energy security and expanding clean power generation.The agreement was signed in the presence of UPRVUNL managing director Mayur Maheshwari and Coal India director ( business development) Asheesh Kumar, along with senior officials from both organisations and Invest UP.Under the agreement, the two entities will incorporate a joint venture company, with Coal India holding a 51% equity stake and UPRVUNL owning the remaining 49%.The joint venture will develop, finance, construct, operate and maintain a range of renewable energy projects across the state, including ground-mounted solar, floating solar, rooftop solar, wind energy, pumped storage projects and other clean energy technologies agreed upon by both partners.Officials said the partnership combines Coal India’s financial strength, project execution capabilities and growing renewable energy portfolio with UPRVUNL’s expertise in power generation and understanding of Uttar Pradesh’s energy requirements. The collaboration is expected to help meet the state’s rising electricity demand through sustainable energy infrastructure.
