State-owned CIL on Friday announced incorporation of two wholly-owned arms. The two subsidiaries are CIL Solar PV Ltd and CIL Navikarniya Urja Ltd, Coal India Ltd (CIL) said in a filing to BSE.
CIL Solar PV Limited has been incorporated for manufacturing in solar value chain (Ingot-wafer-Cell Module) and CIL Navikarniya Urja Limited for renewable energy, the filing said.
Coal India accounts for over 80 per cent of domestic coal output. The PSU is eyeing 1 billion tonnes of output by 2023-24.