Coal India Share Price in Focus; Solar Capex Hits ₹961 Crore, Crosses FY26 Target

Coal India Ltd announced that its capital expenditure on solar projects reached ₹961 crore by January FY26, up from ₹412 crore in the same period last year. This represents a 2.33-fold increase year on year.  

As per the exchange filing, the spending is 132% of the progressive target of ₹729 crore set for January. It has also gone past the full-year FY26 solar capex target of ₹957 crore.  

Solar Capacity Plans 

The company is targeting 3,000 MW of solar capacity by FY28 as part of its net-zero plan. As of December 2025, Coal India and its subsidiaries had installed about 247 MW of renewable capacity.  

This is expected to increase to around 675 MW by the end of the current financial year, based on projects already under execution.  

Projects Under Development 

The 2 solar projects in Gujarat form part of the next phase: a 100 MW plant in Patan and a 300 MW project in Khavda.  

The company is also looking at about 2,000 MW of additional capacity through subsidiaries and joint ventures. These include an 875 MW project with Rajasthan Rajya Vidyut Utpadan Nigam Ltd and a 500 MW plant with Uttar Pradesh Rajya Vidyut Utpadan Nigam Ltd, both to be built in phases.  

A tender has also been issued for a 20 MW floating solar project in Gorakhpur.  

Falling Installation Costs 

Coal India said the cost of setting up solar capacity has declined to about ₹4-4.5 crore per MW, compared with ₹5.5-6 crore earlier.  

The company is also participating in tariff-based competitive bidding for solar projects across multiple states and examining battery storage options.  

Read More: PSU Dividend Stocks to Watch: Coal India, HAL, and More Record Date is Tomorrow, Feb 18! 

Coal India Share Price Performance  

As of February 17, 2026, 9:30 am, Coal India share price was trading at ₹421.40, a 0.30% decrease from the previous closing price. 

Conclusion 

Solar spending has already exceeded the annual target for FY26. Additional projects and joint ventures are expected to increase renewable capacity further during the year. 

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