India Invests Both in Coal Mines and Green Energy Sources

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At a time when the world is crying out loud for zero emissions and renewable sources of energy consumption, India has some 31 companies submitting their bids for coal mining and management.

There are some 15 coal mines lined up with 28 coal mine auctions in place. This is the fifth tranche of auctions. Under the second attempt of the third tranche, a total of nine coal mines were put up for auctions and six bids have been received against six coal mines.

It will still take India time to switch off coal and completely move onto more renewable sources of energy.

“The bids will be evaluated by a multi-disciplinary Technical Evaluation Committee and Technically Qualified Bidders would be shortlisted for participation in the electronic auction,” the ministry added.

Prime Minister Narendra Modi had in 2020 launched the auction of 41 coal mines for commercial mining, saying this is a major step in making India self-reliant in the energy sector.

On the flipside, India is also moving towards developing its renewable energy sources too. India is on target to meet 450 GW of renewable energy capacity by 2030. For this, it has been making investments in the field of solar, wind, small hydropower and biopower, among other technologies. Undeniably, India’s potential in clean sources of energy remains untapped. There is a huge potential to unleash and proper planning and timely launch will help India’s smooth transition from coal to more greener sources of energy in the future.

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