Widening further its business diversification portfolio into thermal power generation, Coal India (CIL) formally joined hands with Damodar Valley Corporation (DVC) to set up a coal fired 2×800 MW Ultra Supercritical Power Plants in Jharkhand. DVC is the power generator that operates in the states of West Bengal and Jharkhand. This would be a Brownfield project - an expansion of existing Chandrapura Thermal Power Station (CTPS) of 2 X 250 MW capacity.

A non-binding Memorandum of Understanding (MoU) was signed between the two government owned energy entities on 21 April 2025 in Kolkata.

The total investment would be to the tune of Rs. 16,500 crore. The joint venture company would be on 50% equity sharing basis. Coal for the proposed power plants would be sourced from coalfields in the proximity from CIL's subsidiary companies Bharat Coking Coal and Central Coalfields.