Coal news and updates

India state giant approves $9.5 billion of coal power projects

The latest investment approval is for 6.4 gigawatt of generation capacity spread across three locations where the state-run company already operates power stations, according to separate statements Tuesday. NTPC didn’t share timelines for commissioning the projects.

NTPC Ltd., India’s largest power producer, said it has approved construction of coal-fired generation projects worth 797.4 billion rupees ($9.5 billion), aiding the government’s efforts to accelerate capacity addition to meet rising demand.

The latest investment approval is for 6.4 gigawatt of generation capacity spread across three locations where the state-run company already operates power stations, according to separate statements Tuesday. NTPC didn’t share timelines for commissioning the projects.

Prime Minister Narendra Modi’s government has doubled down on coal in recent months, prioritizing energy security over environment and climate. A growing economy and longer spells of heat waves have resulted in a surge in electricity demand, nearly three-quarters of which is met with coal.

NTPC will build 2.4-gigawatt projects each in Nabinagar in India’s east and Telangana in the south, as well as a 1.6 gigawatt project in Gadarwara in the central Indian state of Madhya Pradesh, according to Tuesday’s statements.

NTPC, along with its units and joint ventures, has 76.4 gigawatts of installed capacity, almost 90% of which runs on fossil fuels. By 2032, the company aims to bring down that share to about a half, with the rest coming from renewable sources.

The world’s third-biggest emitter of greenhouse gases has added solar and wind power projects at a record pace in recent years and has set an ambitious target to more than double its clean power capacity to 500 gigawatts by 2030. Still, coal is expected to remain a dominant part of its power mix for at least another decade.