HYDERABAD: The Cabinet Committee on Economic Affairs (CCEA) had approved a Rs 8,500-crore incentive fund to reach the target of 100 million tonnes of coal gasification to ensure stability and energy security. This would also check large-scale carbon emissions, said Union minister for coal and mines G. Kishan Reddy here on Friday.
Talking to reporters, Reddy said that the ministry’s many measures to reduce coal imports had helped the country save Rs 30,000 crore in foreign exchange from April to November 2024. The import of coking coal used in the steel industry had reduced by 1.7 per cent. The focus is on promoting locally available coking coal by developing washeries to reduce ash content, Reddy said
Claiming that coal availability with the country’s thermal power generation companies had increased from four days in 2014 to 21 days, Reddy said that the coal rationalisation scheme helped saving `7,000 crore for power generation companies across private and government sectors.
Kishan Reddy said that the government was promoting public sector units to diversity into emerging areas, Kishan Reddy said that Neyveli Lignite Corporation had set a record as the first PSU to generate one gigawatt of renewable energy. Plans are afoot to generate 10 gigawatts of power by 2030 and 30 megawatts by 2040, he added.
Another PSU, Coal India, through Khanij Bidesh India Limited had acquired critical minerals in other countries and had started mining activity, he said.
Announcing that the government is making preparations for the 12th auction of coal blocks and other mines, the minister said that 184 coal blocks have been given so far.
Coal-based power generation accounted for 74 per cent of supply. With increased demand, coal production had increased to 998 million tonnes in 2023-24 against 609 million tonnes in 2014.
