Global coal industry body World Coal Association (WCA) today said it welcomes the news that ratings agency Moody’s has upgraded the outlook for India’s power sector to stable from negative in view of surge in domestic coal production.
“It is really positive to see that the Modi government reforms are having an impact on India’s power sector, and points to the important role coal is playing in the country’s socio-economic development. The WCA will continue to support India’s energy sector, especially in the deployment of available technologies that will ensure coal is used as cleanly as possible,” WCA CEO Benjamin Sporton said.
According to the International Energy Agency (IEA), coal will continue to make the largest contribution to electricity generation in India through to 2040. The country is also predicted to drive global demand for coal in the decades to come.
“It’s clear that for India, excluding coal from the energy mix is not an option– It is essential for the country’s continued economic growth and critical for energy security. As with many developing economies. Read More…