India, the second largest country in the world coal Consumers on Friday passed the milestone of 1 billion tonnes of coal and lignite production.
The world's second-largest producer after China also surpassed its fiscal 2023 coal and lignite production of 937.22 million tonnes (metric tons) 25 days ago.
Coal Minister Pralhad Joshi described this as a „historic high“ and said that the achievement of 1 billion tonnes of coal and lignite production would make the nation's home even as the sector continues to fuel the economy. He said the lights would definitely come on.
“The 1 billion tonne mission was a milestone that we implemented a few years back in view of the rapidly increasing power demand in our country. A historic milestone in the quest for security. Achieving 1 billion tonnes of coal and lignite production ensures lights are on in people's homes even as the coal sector continues to fuel the economy. „It will be like that,“ he added.
Increase in production
On March 6, India's coal production not only surged past the 900 million tonne milestone, but also crossed the FY23 production mark of 893.19 million tonne 27 days ago. Furthermore, on February 6, 30 days earlier than last year, we achieved production of 700 million tons.
The country's monthly coal production exceeded 100 million tons for the first time in March 2023, bringing the total to 107 million tons. In January 2024, monthly production reached his 99.73 million tons.
The ministry is particularly focused on increasing production at captive and commercial mines to meet the growing demand for coal from the power and industrial sectors. India's electricity demand is expected to grow at 6-7% annually, with dry fuels accounting for about 70% of the electricity generated in the country.
In its December 2023 coal report, the International Energy Agency (IEA) said India's demand, which accounts for 14% of global demand, is expected to grow by 3.5% annually until 2026, reaching 1.397 billion tonnes. Stated. Coal for power generation is estimated to reach 1,006 million tons by 2026, with a slow increase of 69 million tons.
Even if global trends are determined by China, India will be the driving force behind upward pressure on global coal demand until 2026, the agency said.
sufficient stock
India currently boasts significant coal reserves, with approximately 96 million tonnes of coal available to coal companies. Additionally, domestic coal-based (DCB) thermal power plants (TPPs) maintained coal stocks of 46.25 million tonnes as on March 20, 2024.
Coal inventory in the TPP on March 21 was 49.2 million tons, enough for 21 days. As of March 22, Coal India (CIL)'s inventory stood at 82.3 million tonnes.
The ministry assured that it has made sufficient preparations to supply coal to power plants for the summer peak season.
talk to business line On February 27, Coal Secretary Amrit Lal Meena said, „As of February 25, the total inventory is 127.3 million tonnes.“ In other words, we have already exceeded the April 2023 closing price stock. Looking at the inventory at the end of the TPP, it was 34.57 million tons last year (April 2023), but this year it is 41.01 million tons. So this is a significant increase. Approximately 30% excess inventory may occur. This 127.30m will take him to around 150m. Stocks after the TPP ends will reach 43 million to 44 million tons. ”