Coal India, DVC form joint venture for power project

Coal India Limited (CIL) and Damodar Valley Corporation (DVC) have executed a Joint Venture Agreement to establish a new entity on November 7, 2025. This joint venture will focus on setting up a 2x800 MW Brownfield Expansion Thermal Power Project at DVC’s Chandrapura TPS in Jharkhand. The collaboration also aims to explore other opportunities in thermal power and renewable energy projects.

The joint venture will be incorporated as a "Private Limited" Company. Coal India Limited and DVC will each hold a 50% share in the new entity. The initial paid-up share capital will be ₹10,00,000, with an authorized share capital of ₹10,00,00,000, comprising 100,000,000 equity shares at ₹10 each.

Both CIL and DVC will have the right to nominate three executives each as directors of the Joint Venture Company. There will be a lock-in period of five years from the Commercial Operation Date (COD) of the Project, during which no shareholder can transfer their equity shares.