What was filed
Coal India Limited (CIL) told the exchanges that it signed a joint-venture agreement with U.P. Rajya Vidyut Utpadan Nigam Limited (UPRVUNL) on 3 July 2026. Per the filing, the JV is intended to set up renewable-energy projects in Uttar Pradesh — ground-mounted solar, floating solar, pumped-storage, wind and other renewable projects — along with the sale of power and related business activities.
Both partners are public-sector enterprises: CIL a Central PSE and UPRVUNL a State PSE. The company stated the parties are not related to its promoter or promoter group, and that the transaction does not fall within related-party transactions.
How the JV is structured
The venture will be incorporated as a private limited company with its registered office in Lucknow, Uttar Pradesh. Coal India holds the majority stake and the larger share of board seats and, per the filing, will nominate the Chairperson. Shares are to be issued only after the JV company is incorporated, in the ratio of equity shareholding.
The agreement carries pre-emptive rights on further share issues, so partners can maintain their holdings, and a lock-in on share transfers subject to the terms of the JV agreement.
Why it matters to a holder
The filing marks a formal step by a coal-centred company into renewable generation through a state partnership, extending its activity beyond its core business. At this stage the disclosure records only the signing and the governance framework; capital committed so far is limited to the JV's stated initial and authorised capital, and no project sizes, timelines or investment outlays are given.