Coal India signs MoU with UPRVUNL to set up solar power plant in UP
(You can now subscribe to our
(You can now subscribe to our Economic Times WhatsApp channel
State-owned CIL on Monday said it has signed an MoU with UPRVUNL to set up a 500 MW solar power project in Uttar Pradesh. The development is a part of initiatives of Coal India Ltd in the green energy space and to meet the growing energy demand of Uttar Pradesh."Coal India Ltd (CIL) and UP Rajya Vidyut Utpadan Nigam Ltd (UPRVUNL) have executed a non-binding Memorandum of Understanding (MoU) on May 5, 2025 at Lucknow with an intent of setting of 500 MW Solar Power project in Uttar Pradesh," CIL said in a filing to BSE.The pact also includes provision for any additional opportunities which the parties mutually agree to collaborate in the foreseeable future.In April, Coal India had entered into a pact with Damodar Valley Corporation (DVC) for setting up an ultra supercritical power plant in Jharkhand with a total investment of Rs 16,500 crore.Ultra-supercritical power plants operate at higher steam temperatures and pressures than supercritical plants, leading to improved efficiency and reduced emissions.Coal India accounts for over 80 per cent of the domestic coal output. Coal production by CIL was almost flat at 62.1 million tonne in April. It had produced 61.8 MT of coal in the year-ago period.In 2024-25, CIL produced 781.1 MT coal, nearly 7 per cent less than the company's target for the financial year.Coal India is targeting a production of 875 MT and offtake of 900 MT in 2025-26.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Deccan Herald
2 minutes ago
- Deccan Herald
Infosys urges employees to use Yellow Line Metro to avoid traffic
An e-mail sent by the company urged its employees to use "convenient" options like NCMC cards, tokens and QR tickets costing a one-way trip fare of Rs 60, and avoid heavy traffic during peak hours.
New Indian Express
8 minutes ago
- New Indian Express
Net tax collection slips 3.95% as refunds surge
Net tax collection by the mid of the second quarter of FY26 (till August 11, 2025) has contracted by 3.95% compared to the corresponding period last year, as per the latest data released by the Central Board of Direct Taxes (CBDT). The latest figures released by CBDT reveal that the net advance tax collection by the mid of the second quarter of FY26 stood at Rs 6.63 lakh crore, which previously stood at Rs 6.91 lakh crore as on August 11, 2024. The gross tax collection also registered a fall of 1.87%, as it went down from Rs 8.14 lakh crore in the corresponding period previous year to Rs 7.98 lakh crore. The refunds have gone up by 9.81% to Rs 1.34 lakh crore during the period, compared to Rs 1.03 lakh crore in the previous fiscal year's corresponding period. 'The decline in the net collections is mainly due to the higher volume of refunds issued, especially for the corporate tax. One has to also understands tax collections cannot just have one way trajectory and are more dynamic in nature and what we are observing is basically just the impact of refund outflows on the government's net revenue position in the early part of the fiscal year,' says Hitesh Sawhney, partner, Price Waterhouse & Co LLP. The fall in the tax collection is primarily due to the sharp decline in personal income tax collection. While the corporate tax collection has gone up slightly by around 3%, personal income tax collection went down by more than 7% during the period. Previously, under the new tax regime (for 2024-25), taxpayers with income up to Rs 7 lakh had to pay no taxes. But from 2025-26, the exemption limit has been increased to Rs 12 lakh, making income up to Rs 12 lakh completely tax-free under the new regime.
Time of India
16 minutes ago
- Time of India
K'taka Bank announces Q1 net profit at Rs 292cr
Mangaluru: Karnataka Bank posted a net profit of Rs 292.4 crore for Q1 of the financial year 2025-2026 (FY 26) as against Rs 400.3 crore during the corresponding Q1 of FY 25. A meeting of the board of directors held on Tuesday approved the financial results for the quarter ended June 30, 2025. The bank's aggregate business (gross) stood at Rs 1,77,509 crore for Q1 of FY 26 compared to Rs 1,75,534 crore for Q1 of FY 25, registering a year-over-year (YoY) growth of 1.1%. The aggregate deposits of the bank stood at Rs 1,03,242 crore for Q1 of FY 26 as against Rs 1,00,079 crore for Q1 of FY 25, with a YoY growth of 3.2%. The bank's gross advances stood at Rs 74,267 crore as against Rs 75,455 crore as of Q1 of FY 25. The operating profit of the bank stood at Rs 467.3 crore, and net interest income stood at Rs 755.6 crore as at the quarter ended June 30, 2025. The gross NPAs declined to 3.5% at the end of Q1 of FY 26 compared to 3.5% in the corresponding Q1 of FY 25. Net NPAs stood at 1.4% in Q1 of FY 26 from 1.7% in the corresponding Q1 of FY 25. Announcing the results in Mangaluru, Raghavendra S Bhat, MD & CEO of the bank, said, "During the period, the bank registered a moderate YoY growth in topline numbers. The investments made by the bank during last FY on development of infrastructure and processes will start showing results in the coming quarters. Our focus will continue to be in retail, agriculture and MSME (RAM) segments along with improving the low-cost deposits. " Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
