Adani Group is doubling its coal-fired power capacity to 24 GW, and plans to own, develop or operate new coal mines with a combined capacity of 132 million tons a year.
Mukesh Ambani has leaned toward data-driven consumer businesses like retail & telecom, while Gautam Adani has focused on infrastructure & utilities. Clean energy would see them overlap.
SBI needs to finance coal projects to meet Modi's push to electrify more homes, yet it wants to back renewable projects to appease investors restricting support to firms involved in coal.
According to a report, the share of renewables in the power mix needs to climb to 90%, a more than eight-fold increase from now, for India to meet its net-zero goal.
According to UK-based clean energy group Ember, there is a chance coal power never has to breach 2018 levels again if the Indian govt meets its renewable energy goals.
At least 20 ships are anchored off the Chinese port of Jingtang and unable to offload millions of tons of Australian coal. Fifteen of them have been waiting since June.
Appetite for coal is roaring back in Asia, which makes up three-fourths of global consumption & is expected to continue growing after Covid disruption.
Standing up to America is usually not a personal risk for a leader in India. Any suggestions of foreign pressure unites India behind who they see as leading them in that fight.
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