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Thursday, 23 December 21
COAL DEMAND TO PEAK IN INDIA BY 2030, WILL BACK UP RENEWABLES: NITI REPORT - BUSINESS STANDARD
Coal will remain India’s mainstay energy source and the country will shape global demand this decade, two reports have said a month after the government declared ambitious targets for being a Net Zero economy in 50 years and 500 Gw of renewable energy capacity addition.
NITI Aayog, the central government’s think tank, said in a report coal demand will be in the range of 1192-1325 million tonne by 2030, led by usage from the electricity sector. The International Energy Agency (IEA), in its annual coal report said, stronger economic growth and increasing electrification will drive demand growth of 4 per cent per year.
Coal-based utility electricity generation capacity in India is likely “to peak at about 250 GW” by the end of this decade or immediately thereafter, said the NITI report. It added that coal-based utility electricity generation in India will slow down, and is likely to peak a few years later, i.e. later 2040.
IEA said iron and steel production use coal and there are not many technologies to replace the fuel immediately. “India’s growing appetite for coal is set to add 130 million tonnes (Mt) to coal demand between 2021 and 2024. Continued expansion of India’s economy is expected during 2022-2024, with annual average GDP growth of 7.4 per cent, fuelled at least partially by coal. We forecast coal consumption to increase at an average annual rate of 3.9 per cent, to reach 1185 Mt in 2024,” IEA’s Coal 2021 report said.
It said India’s push to domestic coal mining through both Coal India and auction of coal blocks to private companies, coal usage in India will increase as it plateaus in other parts of the world, including China. It also said India is set to overtake China as the world’s largest metallurgical coal importer.
The NITI report said while coal-based thermal power generation will grow in absolute terms for the next decade, its share in the total power generation mix of the country will decline to a 50-55 per cent (from current 72 per cent) in the next 10 years. This, it said would be due to the changing capacity mix with increasing share of renewable energy.
On November 1, at Glasgow global climate summit COP26, Prime Minister Narendra Modi announced India will be a Net Zero economy by 2070 and will have 500 Gw of renewable energy by 2040.
This paper reported had reported, this announcement is unlikely to put pressure on coal.
Senior government officials told Business Standard, Net Zero decision actually provides certainty to investors in coal – both state owned Coal India Limited (CIL) and private captive and commercial coal miners.
“The 1 billion tonne coal production target of CIL will get logged into the economy in this decade. For another 20-30 years the future of coal is secure in India. The mines awarded now have a clear business case to run for their lifetime,” said an official requesting anonymity.
Even IEA noted in its report, the pledges to reach net zero emissions made by many countries, including China and India, should have very strong implications for coal – “but these are not yet visible in our near-term forecast, reflecting the major gap between ambitions and action.”
NITI Aayog cautioned against the target versus achievement of renewable energy in India. “India is unlikely to achieve its target of 100 GW of solar and 60 GW of wind capacity by 2022. Given the current “surplus capacity” in the system, distribution utilities are reluctant to sign fresh power purchase agreements, given their already distressed financial situation. Investments are likely to be constrained following the COVD-19 pandemic. For all these reasons, the development of the renewables sector needs to be tracked carefully.”
“They should also be very cautious of adding new coal capacity beyond 2030 as it risks locking in resources. India must enhance investments in the deployment of clean coal technologies throughout the coal value chain. Government power utilities must show the way by investing in the deployment of advanced clean coal technologies,” it said.
Source: Business Standard
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Saturday, 11 June 22
AIMTEK INTERNATIONAL CONFERENCE AND AWARDS
Press Release: The prestigious AIMTEK International Conference and Awards concluded successfully on June 7th, 2022 at Radisson Blu, Yas Island Abu ...
Thursday, 26 May 22
MARKET INSIGHT - INTERMODAL
The newbuilding market activity has been significantly positive from a dry bulk owner perspective during the first half of 2022. Indeed, the contra ...
Wednesday, 18 May 22
INDONESIAN COAL PRICE REFERENCE DROPPED 4.42% IN MAY
COALspot.com: Indonesian Coal Price Reference for May delivery drops 4.42 per cent month on month.
The Indonesian Coal Price Referen ...
Thursday, 12 May 22
MARKET INSIGHT - INTERMODAL
Almost through half of the year, the overall shipping market continues to show signs of healthiness, after plenty of festivities and holidays that ...
Wednesday, 27 April 22
EUROPEAN UNION'S LNG IMPORTS - BANCHERO COSTA
In 2021, the European Union (27) was the third largest seaborne importer of LNG in the world, with a 15.8% share.
It followed Mainla ...
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- Sojitz Corporation - Japan
- Indogreen Group - Indonesia
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- PetroVietnam Power Coal Import and Supply Company
- Banpu Public Company Limited - Thailand
- European Bulk Services B.V. - Netherlands
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Semirara Mining Corp, Philippines
- Orica Mining Services - Indonesia
- SMG Consultants - Indonesia
- Agrawal Coal Company - India
- Medco Energi Mining Internasional
- Mjunction Services Limited - India
- Simpson Spence & Young - Indonesia
- Cement Manufacturers Association - India
- Cigading International Bulk Terminal - Indonesia
- Australian Coal Association
- Grasim Industreis Ltd - India
- GAC Shipping (India) Pvt Ltd
- Global Business Power Corporation, Philippines
- Wilmar Investment Holdings
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Semirara Mining and Power Corporation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Chettinad Cement Corporation Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Sree Jayajothi Cements Limited - India
- Star Paper Mills Limited - India
- Attock Cement Pakistan Limited
- The State Trading Corporation of India Ltd
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Commonwealth Bank - Australia
- Uttam Galva Steels Limited - India
- Thiess Contractors Indonesia
- Dalmia Cement Bharat India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- SMC Global Power, Philippines
- Parry Sugars Refinery, India
- Bhoruka Overseas - Indonesia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Asmin Koalindo Tuhup - Indonesia
- Straits Asia Resources Limited - Singapore
- Economic Council, Georgia
- Directorate Of Revenue Intelligence - India
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Renaissance Capital - South Africa
- Binh Thuan Hamico - Vietnam
- Thai Mozambique Logistica
- Formosa Plastics Group - Taiwan
- Bangladesh Power Developement Board
- South Luzon Thermal Energy Corporation
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Lanco Infratech Ltd - India
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vedanta Resources Plc - India
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- ICICI Bank Limited - India
- Ind-Barath Power Infra Limited - India
- Larsen & Toubro Limited - India
- Central Java Power - Indonesia
- Mercuria Energy - Indonesia
- The University of Queensland
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Essar Steel Hazira Ltd - India
- White Energy Company Limited
- GN Power Mariveles Coal Plant, Philippines
- VISA Power Limited - India
- Electricity Generating Authority of Thailand
- Meenaskhi Energy Private Limited - India
- Parliament of New Zealand
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Central Electricity Authority - India
- Goldman Sachs - Singapore
- Rashtriya Ispat Nigam Limited - India
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- PowerSource Philippines DevCo
- Malabar Cements Ltd - India
- Electricity Authority, New Zealand
- Power Finance Corporation Ltd., India
- International Coal Ventures Pvt Ltd - India
- Georgia Ports Authority, United States
- Carbofer General Trading SA - India
- Latin American Coal - Colombia
- OPG Power Generation Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Deloitte Consulting - India
- Posco Energy - South Korea
- Borneo Indobara - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Riau Bara Harum - Indonesia
- ASAPP Information Group - India
- Coalindo Energy - Indonesia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bank of Tokyo Mitsubishi UFJ Ltd
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Aditya Birla Group - India
- Samtan Co., Ltd - South Korea
- Xindia Steels Limited - India
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indian Energy Exchange, India
- Romanian Commodities Exchange
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Indonesian Coal Mining Association
- Petron Corporation, Philippines
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Gujarat Mineral Development Corp Ltd - India
- Africa Commodities Group - South Africa
- Tamil Nadu electricity Board
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- Gujarat Sidhee Cement - India
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Sakthi Sugars Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Savvy Resources Ltd - HongKong
- Marubeni Corporation - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karaikal Port Pvt Ltd - India
- Oldendorff Carriers - Singapore
- Metalloyd Limited - United Kingdom
- Holcim Trading Pte Ltd - Singapore
- MS Steel International - UAE
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jindal Steel & Power Ltd - India
- LBH Netherlands Bv - Netherlands
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Madhucon Powers Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Planning Commission, India
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Merrill Lynch Commodities Europe
- Kaltim Prima Coal - Indonesia
- Bulk Trading Sa - Switzerland
- Siam City Cement - Thailand
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- Salva Resources Pvt Ltd - India
- Trasteel International SA, Italy
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