State-owned thermal power plants in Gujarat that use coal as fuel, last year, recorded a plant load factor (PLF) of a mere 41 per cent.
Since 2000 or so, China along with, to a lesser extent, India and other developing nations has been on a coal binge, building coal-fired power plants at a breakneck pace.
China Shenhua Energy shares soared 16.3% to an 18-month high on Monday after it announced a record dividend payout of 59 billion yuan ($8.55 billion) on surging profits and coal prices.
After posting a consistent rise in four years from 2012-13 to 2015-16, coal royalty collection in Odisha has witnessed a slide in this fiscal, with Coal India’s biggest producing subsidiary Mahanadi Coalfields Ltd (MCL) struggling to meet its targeted coal production.
Gaurang Shah of Geojit BNP Paribas told CNBC-TV18, “We do have a hold recommendation on Coal India.
The coal-based power generation increased by six per cent to 674.4 billion units (BU) during the April-December period of the ongoing fiscal, Parliament was informed today.
China has opened the world’s first production line that converts coal into ethanol, the main chemical ingredient in alcohol, the Chinese Academy of Sciences has announced.
The capacity utilization of thermal power plants has been in the red for the last several years. From a peak of 79 per cent in 2007-08, it fell to 75 per cent in 2010-11 due to the twin reasons of faster capacity addition and stressed coal availability. It now stands at less than 60 per cent despite availability of coal.
Adani Enterprises said it would finalise an investment decision by June for its Carmichael coal project in the northern Australian state of Queensland, which has been delayed due to protests from environmental groups.
The government will organise a Quality Conference with coal companies to ensure the right quality of the fossil fuel is supplied to power plants, Power Minister Piyush Goyal said.