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The Cabinet’s economic affairs panel has approved Coal India Ltd subsidiaries’ equity investment of ₹5,607 crore in two thermal power projects, one in Madhya Pradesh and one in Odisha, with a combined capacity of 2,260 MW. The projects are expected to be developed at a capital expenditure investment of ₹21,547 crore.
The government’s determination to increase the capacity of coal-fired power plants to satisfy the growing electricity demand is demonstrated by the investment clearance, as is its assurance that local coal mines will supply extra fuel.
According to Power Minister RK Singh, India must add approximately 30 GW of thermal generation capacity to the 50 GW projects already in various completion phases to fulfil future demand. Coal Minister Pralhad Joshi backed this statement by announcing that India will stop importing coal, barring some coking coal, by 2025.
According to the approved investments, MCL (Mahanadi Coalfields Ltd) is to pump ₹4,784 crore into its subsidiary MBPL (Mahanadi Basin Power Ltd) for building a 1,600 MW project in Odisha’s Sundargarh district. The project will involve building two 800 MW units at an investment of ₹15,947 crore.
South Eastern Coalfields Ltd (SECL) will invest ₹823 crore for building a 660 MW unit through a joint venture with Madhya Pradesh generation utility, MPPGCL, at Amarkantak thermal power station at Chachai village of Anuppur District in the state at a cost of ₹5,600 crore.
The move shows India has enough money to fund coal-brd generation capacity despite major global lenders turning their back on fossil fuel projects.
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