State-owned Coal India aims to add 5 gigawatt (GW) of renewable energy capacity by 2028, a year earlier than the company had envisaged, its business development director Debasish Nanda said at the BloombergNEF summit here on Thursday.
Additionally, in its attempt to diversify its green energy portfolio, the company is looking to set up pump storage projects in its exhausted open-cast mines and is under various stages of dialogues with different countries for acquisition of critical mineral assets.
“We have targeted the four states – Rajasthan, Gujarat, Maharashtra and Karnataka –which are supposed to give 50% of the total solar power to India,” he said, adding that necessary joint venture agreement with the state government are being signed. CIL will put up solar panels, generate solar power and supply to the states.
Nanda informed that the company has commissioned 150 megawatt (MW) of solar capacity with another 450 MW under various stages of completion, slated to be commissioned by FY25 end. “Already the tenders are in various stages. I think even today we have got a tender for 300 MW in Gujarat. Rajasthan tenders for 2,100 MW are expected sometime by the end of October. So, we have lined up everything. We have started the process. We are very confident that we are going to complete this 5 GW by much before 2029. By 2028 it will be completed.”
Besides this, Coal India is also working on acquisition of critical minerals to be used in lithium ion batteries and other sectors. The company has won one of the graphite mines in Madhya Pradesh through auction route. Besides domestic exploration, CIL has also identified critical minerals assets in Argentina, Bolivia, Chile, Australia, and Africa.
CIL is primarily looking for exploration and production of lithium, nickel, cobalt, molybdenum, graphite, phosphates and potash.
For lithium, CIL is looking for exploration in Argentina, Bolivia and Chile. “In Australia also, we are looking at lithium and nickel. We are also open and searching for minerals in Africa. We are in various stages of dialogues,” Nanda said.
CIL is also working on pump storage projects on its open cut mines. CIL will use solar power to pump the water from lower to upper reservoirs and during the peak hours use the same water throughout the line to generate power and supply to the market.
“We have got huge number of open cut mines and once you mine out the coal, it becomes a perfect place for the lower reservoir. So, wherever we have got a place for setting up an upper reservoir, we are going to utilize those projects for pump storage.”
FE had earlier reported that the government has identified five abandoned mines under the aegis of Western Coalfields, a subsidiary of Coal India to convert these into pump storage projects.
Coal India’s consultancy firm, Central Mine Planning and Design Institute (CMPDI) that provides research and support for mineral exploration, mining and infrastructure engineering, among others has also taken up research and survey of de-coaled mines suitable for PSP projects. Currently, over 200 “de-coaled” mines with huge land area are available in the country.
Pumped storage power plants use gravity to generate electricity using water where two reservoirs at different heights generate power as water moves through turbines. During periods of low demand, the water is pumped into the higher reservoir. When demand is high, the water is released to drive a turbine in a powerhouse and feed electricity into the grid.
Last year, the government said that it has identified 20 abandoned mines for evaluation and feasibility study for developing pump storage projects in these. It has also directed stakeholders for consultation with agencies who may be interested in undertaking such projects. The business model like EPC (Engineering, procurement, and construction) contracts or PPP (Public-Private partnership) can be established for developing pump storage plants.
Talking about the future of coal-based energy, Nanda said that coal is not going away for the next 30-40 years.
From: financialexpress
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