Coal India spent ₹961 crore in ongoing fiscal year as capex on solar

State-owned producer Coal India informed on Monday (February 16, 2026) that it incurred ₹961 crore in capital expenditure until January in the ongoing financial year to augment its solar power capacity. This implied the Kolkata-headquartered miner’s capital expenditure on augmenting solar capacity more than doubled from ₹412 crore in the comparable period last year.

“This is 132% target satisfaction against the progressive target of ₹729 crore till January 2026. In the process, [Coal India] has also surpassed the FY 2026 capital expenditure target, under solar projects, which was pegged at ₹957 crores,” it observed.

A senior executive of the Kolkata-headquartered miner and producer holds solar power lists high among the priorities of its diversification portfolio. “Among the cleaner energy sources, solar will play a pivotal role in future, and we are laying the groundwork to remain relevant in the country’s energy sector. We are actively participating in solar auctions, as well,” they stated.

Coal India aspires to install 3 GW worth of renewable capacity by FY 2028.

Until December last year, the entity, along with its subsidiaries have instituted renewable energy capacity installation of about 247 MW. It expects to scale it up to 675 MW by the end of the current financial year.

Coal India is also scouting to install 2 GW worth of renewable capacity in the near-term through its subsidiaries and joint ventures.

Further, it is also participating in Tariff-Based Competitive Bidding (TBCB) tenders for solar power development across multiple states.

“Battery Energy Storage System (BESS) is also on the company’s radar,” the company stated.