Coal news and updates

State-miner Coal India (CIL) is looking to double its production to a billion tonnes in the next five years, Power and Coal Minister Piyush Goyal said on Thursday.

 

“I see Coal India production doubling in the next five years. It makes about 500 million tonnes hopefully this year. We’ll do a billion tonnes in 2019,” Mr. Goyal said at the India Economic Summit.

 

Mr. Goyal, who is also minister for New and Renewable Energy (MNRE), said a “huge investment opportunity” of nearly $250 billion beckons in the energy sector over the next four to five years, including $100 billion in renewables and $50 billion in transmission and distribution.

 

“I see investments also coming into wind (energy) with the re-introduction of the fiscal benefits that were earlier available,” he said.

 

“This government is sincere in giving power to all and this government will protect investments as we go forward,” the minister added.

 

Emphasising that renewable sources of energy are one of the thrust areas of the government, Mr. Goyal said his ministry was taking measures to ensure that solar power generation would touch 100 GW by 2019.

 

 

Source: IANS