While India needs both coal and renewables to suffice its growing power needs, companies like CIL, Tata, Reliance, Adani Group look towards striking a balance with their energy mix portfolios
India has embarked on the high roads, showing leadership and reforms in not only thermal power, but also in renewable energy. For the complementary growth of both the technologies, Indian coal mining & power entities like CIL, Adani coal project, Tata, Reliance etc., are making awakened efforts to turn ‘carbon neutral’.
Coal India Limited (CIL) recently signed the power purchase agreement (PPA) with Gujarat Urja Vikash Nigam Ltd (GUVNL) for the development of a 100MW solar power project in Gujarat. This marks an important milestone in CIL’s journey towards turning into a carbon-neutral company.
Even as CIL increases its coal output to one billion tonne, the company’s renewable ventures under its diversification agenda are in tune with the target of turning into a carbon-neutral company by 2024.
CIL plans to reduce its carbon footprint by powering its mining operations through 3000-megawatt solar portfolio, which includes fourteen rooftop and ground mounted projects.
Many top private companies like Tata, ACC, Adani Group, Dalmia Cement, and twenty more signed a declaration last year, voluntarily pledging to progress towards ‘carbon neutrality’. These companies took a historic step, aligning themselves with India’s commitment under the Paris Agreement, putting forth a strong resolve towards the ‘net zero emissions’ target.
Leading Indian conglomerates like Adani Group, while excelling in thermal power, have ensured proper administration of renewable energy projects as well. The group’s green energy arm – AGEL, acquired SB Energy’s five-gigawatt renewable power portfolio last month.
With this addition to the company’s RE portfolio, Adani Green Energy Limited (AGEL) will achieve 24.3 GW of total renewable capacity and 4.9 GW of operating renewable capacity. Adani Group aims to become the world’s largest solar player by 2025 and the largest RE company by 2030.
Even though Adani coal projects have established a footprint internationally, the company is well-balanced with its energy mix of renewables and thermal portfolio.
India has certainly recognized the work that needs to be done on the renewables side. Although the nation does not promise to dramatically become so green, it definitely is walking the talk to strike a balance.