Coal India, the world’s largest coal-producing company, is reopening more than 30 mines and launching up to five more on greenfield sites this year, saying the country’s renewables sector is yet unable to meet its growing energy demand.
“By the time renewable generation and battery storage systems become bigger, better and more efficient, then the share of coal can come down,” PM Prasad, chair of state-owned Coal India, told the Financial Times in an interview.
Prasad said he was reopening 32 defunct coal mines on a revenue-sharing basis with privately owned local partners, with half a dozen scheduled to start production in fiscal 2025-26.
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