Pramod Agarwal, head of the world’s largest coal mining firm—Coal India Ltd, says its company could venture into solar wafer manufacturing.
The coal giant—is partnering via a joint venture—with state-run NLC India Ltd to invest around USD $1.73 billion in solar power projects with a capacity of 3 gigawatts.
Pramod says its company expects to lose business in the next two, three decades, as solar takes over.
Coal India plans to keep closing small coal mines and will avoid opening any mines that would involve large-scale hiring.
Bloomberg says India must phase out its coal-fired power plants by the middle of this century to achieve net-zero emissions within that timeframe.
The country is under pressure to commit to a net-zero target before the COP26 climate change talks in Glasgow and has been considering a 2050 goal.