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No need for steam coal imports by 2017, says Goyal

India Coal Market Watch

November 16: India should not need to import thermal coal by 2017 except for the coastal power plants, Piyush Goyal, the Union Minister of State (IC) for Power, Coal, and New and Renewable Energy, said, adding that the era of shortages is over in the coal sector.

 Goyal was speaking at the release of the report “The Rising Sun – Disruption on the Horizon” at ENRich 2015, KPMG’s annual energy conclave, held in New Delhi on November 16.

 Goyal said that given the kind of structural changes, massive thrusts in bringing the highest level of probity into the system and economies of scale, the country stands to benefit from the large-scale roll-out of programmes.

 “I am convinced that the Indian economy is picking up at a great speed,” Goyal said, adding that in the near future people will witness an unparalleled upswing in the nation’s economy which will take India to a new level of development. The minister assured that his ministry will contribute to the country’s holistic development by ensuring speed to progress through energy security. He hoped that the last man at the bottom of the pyramid will receive fruits of this development very soon.

The report highlights that solar could scale up substantially to be a significant energy source by 2025, with the market penetration of solar power expected to be 5.7% (54 GW) by 2020 and 12.5% (166GW) by 2025. India aims to reduce emission intensity of its GDP by 33 to 35% by 2030 from 2005 levels, and solar power is likely to contribute 4% towards this target, the report states.