Govt issues Certificate of Incorporation to CIL Rajasthan Akshay Urja Limited
Earlier, the Joint Venture Agreement was signed between Coal India Limited (CIL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) for Renewable Energy Business in Rajasthan.
New Delhi: The Government of India has issued the Certificate of Incorporation to CIL Rajasthan Akshay Urja Limited today. The company's authorized share Capital is Rs 10, 00, 00,000 (Rupees Ten Crore only). Initial Paid up Capital: Rs. 10, 00,000/-(Rupees Ten Lakh only) CIL: Rs. 7,40,000/- and RVUNL: Rs. 2,60,000/-). CIL Rajasthan Akshay Urja Limited has been incorporated on 09.06.2025.
The company has formed with the objective to develop, construct and operate the solar power projects, PSP projects and wind power projects or such other projects as may be mutually agreed between the Parties in writing through a suitable model, and the Company will undertake the business of selling the power generated from the Projects to RVUNL under Section 62 of Electricity Act, 2003 or such other entities as may be mutually agreed between Parties in accordance with the applicable Laws including the Electricity Act and any other activities reasonably related to or incidental thereto (supply renewable power to the state DISCOMs/Other DISCOMs, Third Party/Open Market/C&I customers etc. anywhere in India on mutual consent).
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The Coal Ministry letter dated 15.01.2025 conveyed the approval of DIPAM for formation of a JV of CIL & RVUNL.
Earlier, the Joint Venture Agreement was signed between Coal India Limited (CIL) and Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL) for Renewable Energy Business in Rajasthan.
Coal India holds 74% shares and RVUNL 26%.
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