India Drives a Global Surge in New Coal Mine Plans
High Oil Prices Deliver a Windfall for China’s Coal-to-Chemicals Industry What I Cover Irina Slav has been writing about global energy markets since 2007, covering the oil and gas industry, energy security, commodities, and the… India turned into the world’s biggest coal power generation capacity builder, proposing as much as 638 million metric tons annually in new capacity last year.
This was a surge from 329 million tons annually in new planned coal capacity a year earlier, and it drove an 11% increase in the global total for the year.
The data comes from Global Energy Monitor, ascitedby Reuters, and highlights India’s approach to energy security, which is a lot similar to China’s approach, featuring all existing sources of power generation to satisfy fast-growing demand.
India also plans to boost domestic coal production, eyeing 1.15 billion metric tons for the current fiscal year and 1.5 billion metric tons in fiscal 2026/27.
On a global level, however, according to Global Energy Monitor, new coal mine additions last year fell by almost 40% on the year to 113 million tons annually.
The question is how sustainably we can use it,” an analyst from an Indian government policy think tank said at the end of last year.
Coal will still be akey partof India’s power system for the next two decades, Rajnath Ram from NITI Aayog also said at the time.
India, the world’s second-biggest coal importer and user after China, has used domestic coal to operate 5.7 gigawatts of power generation capacity at the 18.7-GW plants using imported coal over the first half of this year, with efforts underway to move another 4.3 GW of capacity to use domestic coal.
As of June, some Indian power plants were sourcing as much as 70% of their coal domestically.
Higher domestic production and rising renewable energy installations have been key to the switch to domestic coal.
India has a goal to slash its thermal coal imports and has been succeeding in this endeavor in recent months.
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| Product | Price | Change |
|---|---|---|
| Brent Crude | $102.14/bbl | +0.34% |
| WTI Crude | $96.90/bbl | +0.21% |
| EN590 Diesel | $846/MT | +0.18% |
| Jet Fuel A-1 | $1090/MT | +0.55% |
| Mazut M100 | $450/MT | -0.15% |
| Bitumen 60/70 | $470/MT | +0.08% |
| Sulphur Gran 99.5% | $470/MT | -0.44% |
| Urea 46% Gran | $650/MT | +1.12% |
| NPK 16-16-16 | $460/MT | -0.28% |
| Nat Gas TTF | $15.42/MMBtu | +0.92% |
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