Coal India Limited (CIL) has signed a joint venture agreement with U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on July 3, 2026, for setting up renewable energy projects in Uttar Pradesh. This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Key Agreement Details:
Parties Involved:
- Coal India Limited (CIL)
- Uttar Pradesh Rajya Vidyut Utpadan Nigam Limited (UPRVUNL)
Purpose:
Setting up of Renewable Energy Projects in Uttar Pradesh including:
- Ground Mounted Solar
- Floating Solar
- Pumped Storage Projects
- Wind Projects
- Other Renewable Energy Projects
- Sale of power and related business activities
Shareholding Structure:
- CIL: 51%
- UPRVUNL: 49%
Significant Terms:
1. The JV will be incorporated as a Private Limited Company
2. Initial paid-up capital: ₹10 lakh
3. Authorized share capital: ₹10 crore
4. Registered Office: Lucknow, Uttar Pradesh
5. Board Composition: 5 Directors total
- CIL to nominate 3 Directors
- UPRVUNL to nominate 2 Directors
- CIL shall nominate the Chairperson
6. Pre-emptive rights for further share issue to maintain shareholding比例
7. Lock-in on share transfer for 5 years, subject to JVA terms
Related Party Status:
The parties are not related to promoter/promoter group/group companies. CIL and UPRVUNL are Central and State Public Sector Enterprises respectively.
Related Party Transaction:
No, this transaction does not fall within related party transactions.
Share Issuance Details:
Shares shall be issued after incorporation of the JVC in the ratio of equity shareholding (51:49).
Governance Arrangements:
CIL shall have the right to nominate 3 Directors and UPRVUNL shall have the right to nominate 2 Directors on the Board. CIL shall nominate the Chairperson.
Additional Information:
The disclosure was signed by Bijay Prakash Dubey, Executive Director (CS) & Compliance Officer of Coal India Limited.