As per the company, it will need to submit the required documents as per the LOA and sign the PPA, implementation support agreement (ISA) and land rights use agreement (LRUA), along with upfront solar park development charges before execution.

Coal India clarified that the contract is not a related-party transaction and that neither its promoters nor promoter group entities have any interest in the deal.

Coal India is India's largest coal producer and a Maharatna public sector undertaking. The company primarily engages in coal mining and production and supplies coal to power, steel, cement, fertilizer and other industrial sectors.

For the quarter ended March 2026, Coal India reported a 12.9% increase in consolidated net profit to Rs 10,839.18 crore, while revenue from operations rose 5.75% to Rs 46,490.03 crore compared with the corresponding quarter of the previous year.