As part of its net zero commitments, Chhattisgarh-based mining company SECL has lined up an investment of Rs 1,218 crore spread up to financial year 2025-26 for setting up solar projects.
South Eastern Coalfields Ltd (SECL), with 67 blocks, is among the top three coal producing subsidiaries of Coal India Ltd (CIL), under the Ministry of Coal. In FY23, CIL's output was 703.21 MT, out of which SECL's contribution was 167 MT.
"SECL aims to become a net-zero energy company. SECL plans to develop solar projects of more than 600 MW in the coming years, and plans to invest more than Rs 1,000 crore in renewable energy. The investments are part of the company's strategy to expand and diversify its business to achieve net zero commitments," SECL said in a statement.
Sharing the break up of the investment plan, SECL said two solar projects of 20 megawatt (MW) each are being set up at Bhatgaon and Bishrampur, and another 0.8 MW at Saraipali Korba area in Chhattisgarh. Total cost of these project is Rs 180.71 crore.
A 1.5 MW floating solar plant will be installed at Sharda OC Sohagpur area in Madhya Pradesh at a cost of Rs 9.84 crore. The detailed project report for a 40-MW solar project worth Rs 286.51 crore is under the process of approval.
A ground-mounted solar project of 60 MW worth Rs 420 crore is being set up at Johilla Phase-II and a 46-MW project worth Rs 322 crore in Hasdeo.
In FY23, SECL commissioned a 0.58 MW solar project worth Rs 2 crore. The total cost of the projects under various stages of commissioning calculates to Rs 1,220 crore.
Besides, SECL is also planning to set up solar projects totaling 436 MW on RESCO (Renewable Energy Service Company)/BOO (Build-Own-Operate) mode.