Given the changing global energy mix, Coal India Ltd, the world’s largest coal miner, plans to set up 20,000 megawatts (MW) of solar projects over the next 10 years, a top executive said to Livemint.
It is estimated that at a per-MW cost of around Rs4.5 crore, Coal India will require an investment of around Rs90,000 crore to set up this capacity.
“If you look beyond 2050, one priority is to reach over to renewable energy,” said Coal India chairman and managing director Gopal Singh, adding that the miner has the 40,000 hectares of land required to set up such a large solar capacity. “Affordability is a big factor for us,” he added.
In another development, the state-run firm that accounts for 84% of India’s primary fuel production, will register a 2.52% or 14 million tonne (mt) increase in coal production for the current financial year to reach 568mt. Also, the quantum of coal dispatched in 2017-18 is expected to reach 580.50mt as compared to 543.32mt in 2016-17.
As part of its attempts to improve efficiency, Coal India has introduced a staggered weekly off for its 298,000 workforce since October last year. This in turn has ensured round-the-week operations.
Going forward, Coal India’s strategy is to liquidate stocks. Also, the firm is set to implement the new pricing policy from 1 April wherein coal prices will be linked to quality with prices being calculated on every unit of gross calorific value (GCV) of coal rather than the grade, reported Livemint.
