Coal India wins ₹2,831 crore solar project; June e-auction allocation rate at 41%

Coal India Ltd. has secured a 600 MW solar power project in Uttar Pradesh, while separately reporting that its Single Window Mode Agnostic (SWMA) e-auction platform allocated 108.76 lakh tonnes of coal in June at an average premium of 42% over the notified price.

CIL wins major solar project in UP

The company said it has received a Letter of Award (LoA) from Bundelkhand Saur Urja Ltd. to develop the project at Jalaun Solar Park in Uttar Pradesh. The project comprises two 300 MW units and will supply power at a tariff of ₹2.73 per kWh.

Estimated to cost ₹2,831.11 crore, the project is expected to be completed within 18 months of signing the power purchase agreement (PPA), according to the company's exchange filing.

June SWMA e-auction allocation stands at 41%

Separately, Coal India offered 266.23 lakh tonnes of coal through the SWMA e-auction platform in June and allocated 108.76 lakh tonnes, translating into an allocation rate of 41%. The allocated volumes fetched an average premium of 42% over the notified price.

Among its subsidiaries, Northern Coalfields Ltd. and North Eastern Coalfields achieved 100% allocation of the coal offered. South Eastern Coalfields Ltd. allocated 75%, followed by Western Coalfields Ltd. (52%) and Central Coalfields Ltd. (42%). Allocation rates stood at 30% for Mahanadi Coalfields Ltd., 25% for Eastern Coalfields Ltd., and 9% for Bharat Coking Coal Ltd.

For the April-June quarter of FY27, Coal India offered 829.15 lakh tonnes under the SWMA mechanism and allocated 310.69 lakh tonnes, implying an allocation rate of 37%. The average premium realised during the quarter stood at 44% over the notified price.

Also Read: Coal India achieves 21% of FY27 output target; Output struggles in June but offtake surprises

The SWMA platform enables Coal India to auction non-linkage coal through a single online window open to buyers across sectors, replacing the earlier sector-specific auction mechanism to simplify coal sales and improve transparency.

Shares of Coal India Ltd. ended 0.89% lower at ₹435.15 on the NSE on Wednesday, ahead of the announcements.