As world carbon emissions set record, Coal India turns to clean energy
Coal India to invest in diverse sectors like solar energy, coal-methanol and coal-gasification projects
Continuing with the changing global energy blend, world's largest coal miner, Coal India Ltd, has planned to set up 20,000 megawatts (MW) of Solar Power Projects in the upcoming decade.
It is estimated that with a per-MW cost of around INR 4.5 crore, Coal India will require an investment of around INR 90,000 crore to set up this capacity.
"If you look beyond 2050, one global priority is to switch to renewable energy and for us, affordability is a big factor," said Coal India chairman and MD Mr. Gopal Singh.
He added that Coal India has the required 40,000 hectares of land for setting up a solar plant of such capacity and this project will help boost India's clean energy commitments.
After US and China, India is the biggest emitter of greenhouse gases and plans to reduce its carbon footprint levels in 2005 by 33-35 percent by 2030 as part of its commitment to the United Nations Framework Convention on Climate Change adopted by 195 countries in Paris in 2015.
India plans to achieve 175 gigawatts (GW) of renewable energy capacity by 2022. Of this 100GW is to come from solar projects. Also the firm plans to monetise its wastewater by distilling it and providing it to the Indian Railways for use.
"This year is going to be a milestone year," Singh said.