Kolkata/Ranchi: Coal India (CIL) is foraying into the solar power sector with a view to make use of its whopping cash reserve of above R60,000 crore in a meaningful way.

CIL chairman and managing director S Narsing Rao told FE there are business opportunities in the solar power sector and a scope to take some climate mitigation initiatives as well. “Foraying into solar power is expected to give us returns higher than the interest we are earning. It would also be a carbon mitigating project,” Rao said.