Jaipur, June 13 -- In a strategic push towards green energy, Coal India Limited (CIL) has launched a new subsidiary-CIL Rajasthan Akshay Urja Limited-in partnership with Rajasthan Rajya Vidyut Utpadan Nigam Limited (RRVUNL), the state power generation company.

This move marks Coal India's significant entry into the renewable energy sector in Rajasthan.

The newly formed joint venture will see Coal India holding a 74 per cent stake, while RRVUNL will own 26 per cent. The company was officially incorporated on June 12, as confirmed by the Ministry of Corporate Affairs.

The authorised share capital of the subsidiary stands at Rs 10 crore, with 1 lakh equity shares issued-74,000 shares to Coal India and 26,000 shares to RRVUNL, each priced ...