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.
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.
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.
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!
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.
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.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Feb 17, 2026, 10:33 AM IST
Team Angel One
We're Live on WhatsApp! Join our channel for market insights & updates
Get the link to download the App
EN