News Update
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Coal production rises 7.4% in October, dispatches increase to 82.89 MT
Coal production rose by 7.4% to 84.45 MT in October compared to 78.57 MT in the corresponding month of the previous fiscal. Production from captive and other entities rose to 16.59 MT in October over 11.70 MT. Coal dispatches witnessed a boost in October reaching 82.89 MT compared to 79.25 MT recorded in October last fiscal.
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As 92 commercial coal mines await 364 clearances, govt moves to set up Project Management Unit
The Ministry of Coal is seeking to enlist the help of a consulting firm to set up a Project Management Unit for ‘expediting coal block operationalisation’ as 92 coal mines auctioned under the commercial coal mining regime await clearances. The coal mines are awaiting between one and five clearances. The total number of pending clearances is 364, which is holding up the operationalisation of these coal mines.
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India’s coking coal imports surge to six-year high
India’s coking coal imports for the first six months of the current fiscal (April-September) were at a six-year-high at 29.6 million tonne (mt) with shipments from Russia witnessing a substantial rise of over 200% during this period. Shipments increased by around 3% on a y-o-y basis, against 28.8 mt in the comparative period last year.
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Thungela CEO sees world shunning new coal as boon for existing mines
New coal investment may be drying up as the world seeks greener energy, but for miners like South Africa's Thungela Resources that could be a boon if Asia’s ravenous appetite keeps prices buoyant, its CEO said. Since its demerger from Anglo American, Thungela has pursued a strategy 100% hitched to coal, even while some investors shun coal as a liability in a world under pressure to decarbonize.
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IEX achieves 9,642 MU electricity trade in October, REC trading surges 105% YoY
Indian Energy Exchange (IEX) recorded a total electricity traded volume of 9,642 million units (MU) in October 2024, reflecting a 4% increase year-on-year. Renewable Energy Certificates (RECs) also saw a sharp increase, with 4.44 lakh RECs traded in October, marking a 105% rise from the previous year. India’s energy consumption reached 140.4 billion units (BU) in October.
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NTPC board approves Rs 80,000 cr investment proposals for 6,400 MW thermal capacity
Power giant NTPC said its board has approved investment proposals worth about Rs 80,000 crore for thermal projects totalling 6,400 MW. The board of directors accorded investment approvals for Telangana Super Thermal Power Project, Phase-II (3x800 MW), Gadarwara Super Thermal Power Project, Stage-II (2x800 MW) and Nabinagar Super Thermal Power Project, Stage II (3x800 MW).
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India to revamp power demand forecasting for better planning
India is overhauling the way it forecasts electricity demand to ensure generation capacity matches what’s needed and the grid remains stable with increasing volumes of clean energy. Changing power usage patterns, rising use of intermittent solar and wind energy and increasingly frequent extreme weather events have complicated demand forecasting, requiring systemic reforms.
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Ministry of Power amends Guidelines for Tariff-Based Competitive Bidding Process for procurement of power from renewable energy projects
The Ministry of Power has released amendments to the Guidelines for Tariff-Based Competitive Bidding Process, aiming to streamline the procurement of power from renewable energy sources, particularly those with energy storage systems. These amendments address critical aspects such as project timelines, performance expectations, and technical requirements, which are essential to the stability and transparency of the renewable energy market.
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India in talks with Gulf, Asia nations for cross-border power grid links under OSOWOG
India is in advanced discussions with Oman, UAE, Saudi Arabia, Maldives, and Singapore to establish cross-border electricity transmission lines as part of the ambitious ‘One Sun One World One Grid’ (OSOWOG) initiative. Under OSOWOG, India and Oman are set to interconnect their power grids, a move seen as pivotal to enhancing renewable energy flow in the region.
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Anti-dumping duty imposed on welded stainless steel pipes, tubes
The government imposed anti-dumping duty on welded stainless steel pipes and tubes imported from Vietnam and Thailand, accepting recommendations of the Directorate General of Trade Remedies (DGTR). The duty, imposed for five years, varies from $246 to $307 per tonne. It comes after DGTR concluded that welded stainless steel pipes and tubes had been exported to India from these countries ‘at dumped prices’.
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AM/NS to set up Rs 1.4 lakh crore steel project in Andhra Pradesh
AM/NS India, a joint venture between ArcelorMittal and Japan’s Nippon Steel, is set to establish an integrated steel project of 17.8 million tonne capacity, with a proposed aggregate investment of Rs 1.4 lakh crore, in the Anakapalli district of Andhra Pradesh. In the first phase, AM/NS will establish a 7.3 million tonne per annum capacity steel plant with an initial investment of Rs 80,000 crore.
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JSW-POSCO to set up greenfield steel plant in Odisha's Keonjhar: CM Mohan Charan Majhi
Odisha Chief Minister Mohan Charan Majhi said India’s fastest growing conglomerate JSW Group and South Korean steel major POSCO will jointly set up a greenfield steel facility in his home district of Keonjhar. Majhi revealed this amid nationwide speculation over the exact location of the JSW-POSCO joint venture to invest $7.7 billion in Odisha steel plant.
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Freight corridors contribute Rs 16,000 crore to India’s GDP
India’s existing Dedicated Freight Corridors (DFCs) will contribute Rs 16,000 crore to the country’s gross domestic product, a study has found. Sharing findings of this study, a statement said reduction in freight cost and travel time due to operationalisation of the Western DFC has helped reduce commodity prices by up to 0.5%.
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Rail infra projects worth Rs 83,000 cr undertaken in SCR: Union Minister Kishan Reddy
Union Minister G Kishan Reddy said works for various on-going infrastructure developmental projects and 15 final location surveys in South Central Railway (SCR) jurisdiction have been undertaken with a cost of around Rs 83,000 crore. The Union Coal and Mines Minister, and 10 Members of Parliament of Telangana and Karnataka belonging to SCR Zone’s jurisdiction took part in a meeting conducted by South Central Railway.