Coal India and RRVUNL Form JV to Undertake RE Projects in Rajasthan
Coal India and Rajasthan Rajya Vidyut Utpadan Nigam Ltd. have signed a joint venture agreement to undertake renewable energy business in Rajasthan.
September 24, 2024. By Mrinmoy Dey
While Coal India will have 74 percent stake in the joint venture company (JVC), RRVUNL will have 26 percent stake. It will be incorporated as a ‘Pvt. Ltd.’ company.
“Initial paid-up share capital of the JVC shall be INR 10 lakh. The authorized share capital of the JVC shall be INR 10 crore comprising one crore equity shares at INR 10 each,” informed Coal India in a regulatory filing.
The registered office of the JVC will be situated in Jaipur. Both CIL and RRVUNL each will have the right to nominate four and two executives as Directors of JVC respectively.
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