Coal India, the state-owned monolith that produces almost all of the country’s coal, sees a slowdown coming, according to an internal prognosis.
That’s despite government efforts this week to open up India’s coal mining sector to competition.
Entitled Coal Vision 2030, the report – which has been circulated to stakeholders for consultation – warns that cheap solar power, climate commitments and economic factors are likely to have a “significant impact” on the coal sector.
“Even in the case of coal industry in India, trends portent [sic] that in the long run the demand is likely to decrease substantially,” it states. “With the increasing threat of climate change impacting humanity (irrespective of the US position) and the global funding focus on renewables, it is a matter of time when alternate clean energy would displace coal.”
Yet the raw numbers in Coal India’s analysis tell a different story, predicting coal use roughly doubling to 1,300-1,900 million tonnes in 2030. Read More…
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