Coal India Commits Rs 25,000 Crore To Renewable Energy Expansion

(MENAFN- KNN India) New Delhi, May 9 (KNN) In a significant move towards clean energy, Coal India Ltd (CIL) has announced an investment of Rs 25,000 crore to enhance its renewable energy capacity.

This initiative is part of a memorandum of understanding (MoU) signed with AM Green, a green ammonia venture backed by the founders of Greenko. Under this agreement, CIL will supply 4,500 MW of solar and wind power to AM Green's facilities.

The investment will be allocated to developing 2,500–3,000 MW of solar power and 1,500–2,000 MW of wind energy.

Potential sites for wind projects are being considered in southern states, while solar plants are planned for sun-rich regions like Gujarat and Rajasthan.

AM Green intends to integrate these renewable sources with pumped hydro storage to ensure a consistent energy supply for its green ammonia production.

P.M. Prasad, Chairman and Managing Director of CIL, emphasised the company's commitment to a sustainable future, stating, "While coal remains our mainstay in meeting India's expanding energy needs in the near term, our plans include a proactive role in building a greener and more sustainable future."

AM Green aims to produce 5 million tonnes per annum of green ammonia by 2030, aligning with India's National Green Hydrogen Mission.

Anil Chalamalasetty, founder of Greenko and AM Green, expressed enthusiasm about the partnership, highlighting its potential to position India as a leading producer of green hydrogen and ammonia.

This collaboration marks a significant step in India's transition towards renewable energy, reflecting the country's broader goals of achieving 500 GW of non-fossil fuel capacity by 2030 and net-zero emissions by 2070.

(KNN Bureau)

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