Coal India is planning to build $1.2 billion of solar projects to compensate for the carbon pollution.
The company is discussing the subject with the Ministry of New and Renewable Energy for a combined capacity of 1,000-megawatts.
Recently, coal and power minister Piyush Goyal labeled Coal India and power producer NTPC as “massive polluters” and said they “must give back to the society.”
The solar initiative is part of Prime Minister Narendra Modi’s plan and he expects more than $100 billion investment in renewable energy. Shortage of coal often leads to blackouts and thermal power plants hurt the environment.
The government plans to sell 10 percent in Kolkata-based Coal India to cut its budget deficit.
On other hand, in different parts of the world, activists are seriously considering a drive by 350.org to request foundations, corporations and universities to divest from companies having largest share of coal and oil resources, including Coal India and Exxon Mobil (XOM).
A diesel generator and inverter-free India within the term of this government are necessarily needed changes, Goyal said in a conference.
India plans to increase solar power capacity to 10,000 megawatts by March 31, 2017 from 2,800 megawatts, which would additionally cost 500 billion rupees.
While the plans are at an initial stage, Coal India may spread the project over different locations. The company will need about 5,000 acres of land for setting up the 1,000 megawatt project.
NTPC had signed an accord with southern state of Andhra Pradesh for setting up 1,000 megawatt solar projects.
editor@greentechlead.com