India is in the news for 'change'. From the days of slow economy to rapid change in economic reforms and a growth story rewritten, the nation is making waves in the global arena.
The cancellation of 13.7GW of Indian coal power projects in May 2017, coupled with a record low solar tariff of Rs 2.44 /Unit (0.038USD/kWh), are the strongest indications yet that an energy transformation in India is gaining rapid momentum and global capital markets endorsement.
Pakistan International Bulk Terminal (PIBT), the neighbouring countryÂ’s first coal and cement handling facility has started commercial operations at Port Qasim in Karachi. this week with the handling of a cargo vessel that brought 41,000 tons of coal, according to a statement issued on Wednesday.
The countryÂ’s production of Coal Bed Methane (CBM) has grown more than 44 per cent last financial year, to around 565 million standard cubic metres (MMSCM) as compared to 393 MMSCM in 2015-2016. This will help curb IndiaÂ’s dependence on imports for energy supply.
The company had recorded provisional production of 12 MT against a target of 11.70 MT as of February 2016, according to a BSE filing by parent company Coal India Ltd. Coal India Ltd is looking at a production target of 1 billion tonnes of coal by 2020.