Plant load factors (PLFs) of coal-based power plants in India will improve to ~65 per cent this fiscal despite record renewable energy (RE) capacity addition, said a report by CRISIL Ratings. Healthy PLFs, it added, along with lower receivables and encouraging fuel supply will support the credit profiles of private coal-based generating companies (gencos). The […]
Category: Coal
CIL to invest $54.5 billion in abated coal projects over next decade
Coal India Ltd will invest around $54.5 billion in abated coal projects over the next decade, said Michelle Manook, Chief Executive Officer of the World Coal Association now renamed as FutureCoal while talking about the need for deployment of abated coal solutions for energy transition. “There is still very much a foreseeable and significant future […]
‘Future of coal is bright in India; technologies to help sustainable extraction of dry fuel’
The future of coal in India is bright as there are technologies available which can help the country extract, use and combust the dry fuel far more sustainably, FutureCoal on Monday said.Coal is considered to be the biggest contributor to climate change with thermal electricity being responsible for nearly 30 per cent of global greenhouse […]
India seeks to restart stalled Adani coal imports probe
Indian investigators are seeking to restart a probe into Adani Group for alleged overvaluation of coal imports and have asked the Supreme Court to allow them to collect evidence from Singapore, a step they say the company thwarted for years, legal documents show. The Directorate of Revenue Intelligence since 2016 has been trying to procure […]
Coal-based plants to meet much of incremental power demand: Crisil
The plant load factor or capacity utilisation of coal fired thermal power plants is expected to improve 100 basis points to 65% this financial year despite strides achieved in renewable energy capacity addition, according to a study. Power demand is seen growing 5-6% and a large portion will be met by existing coal-based plants despite […]
Rating: BUY | CIL: Stellar Q2 show, outlook positive
Coal India ltd (CIL) exceeded expectations in Q2FY24 with an EPS of `11.9/share, surpassing both our and consensus estimates by 35% and 25%, respectively. Key points include: Volume growth: Positive volume trends were observed across all categories, offsetting the adverse effects of lower e-auction realisation. Wage cost management: Wage costs, totalling `116.4 billion, remained at […]
Jefferies upgrades Coal India rating to buy from hold, sees 19% upside
Coal India, one of the leading players in the coal mining sector, has reported a robust performance for the second quarter of the fiscal year 2023-24, marked by a 12.5% increase in net profit to Rs 6,800 crore. This surge in profitability can be attributed to higher sales and improved joint venture profits. The joint […]
Coal ministry to ensure sufficient availability of dry fuel at thermal power plants
The coal ministry on Monday said it has plans to produce additional quantity of the dry fuel to ensure sufficient availability for thermal power plants.Production enhancement measures include opening of new blocks, expansion of mines capacity and production from captive, commercial mines. “All these three operational components are contributing and have clear plans for further […]
Coal stocks at 82 thermal power plants plunge to critical level
Coal stocks at nearly half of the large thermal power units were at “critical” levels during the weekend, indicating that despite the call for higher imports to shore up stocks, the situation is yet to be satisfactory. As many as 82 of the 182 thermal power plants monitored by the Central Electricity Authority (CEA) had […]
Coal India Q2 net profit rises 12.5 per cent to Rs 6,799 crore
State-run Coal India on Friday reported a 12.5 per cent rise in consolidated net profit to Rs 6,799.77 crore for the September quarter on account of higher sales. The company’s net profit stood at Rs 6,043.55 crore in the year-ago period, it said in a regulatory filing. Its consolidated sales increased to Rs 29,978.01 crore […]
National Coal Index increases to 143.91 points in September: Coal Ministry
The National Coal Index (NCI), which reflects the change in price of coal, has increased by 3.83 points to 143.91 points in September 2023, an official statement said.This increase was on account of a temporary rise of coal prices in global markets, Ministry of Coal said in a statement.”The NCI is marginally up by 3.83 […]
The spectre of perpetual scarcity of coal
The G20 declaration has called for a reduction in the unchecked use of fossil fuels. The most recent Conference of Parties (COP) witnessed a heated debate between proponents of “phase-out” and “phase-down” approaches to fossil fuels. This ongoing debate may result in a prolonged period of scarcity until a definitive phase-down strategy is implemented. This […]