World's Largest Coal Mining Company Decides to Invest in Solar Energy Market

World’s Largest Coal Mining Company Decides to Invest in Solar Energy Market

Written by Valdemar Medeiros

Published on 25/03/2021 at 11:54

usina de energia solar – Fonte: Reprodução Google

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The World’s Largest Coal Miner Should “Aggressively” Seek Solar Energy and Continue Closing Smaller Mines

The coal mining company also wants to compete in India’s solar energy auctions and win projects by offering the lowest prices for renewable energy. This marks a significant shift for the company, which produces most of India’s coal.

Miner Decides to Close Coal Operations and Enter Solar Energy

“Coal, as you know, our mining company is likely to lose business over the next two to three decades. Solar energy will gradually take over (from) coal as a major energy supplier in the coming years,” said CIL President Pramod Agarwal in an interview with Reuters.

The company’s solar energy project with NLC India will be worth ₹125 billion (US$ 1.73 billion; £1.26 billion), with CIL expected to invest about half of that amount by 2024. The group closed 82 mines in the three years up to March 2020 and reduced its workforce by 18,600 employees.

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Solar Energy Transformation

India currently uses about one billion tons of coal annually, making it the second-largest consumer in the world, behind China.

CIL is by far the largest producer in the country, with the company aiming to produce 710 million tons of coal in 2020-21, according to India’s coal ministry.

The country is a signatory to the Paris Agreement on Climate Change and has committed to reducing its emissions by up to 35% by 2030 compared to 2005 levels. Last year, the country’s emissions fell for the first time in decades. Although the lower emissions are partly due to strict Covid-19 lockdown measures, the decreased demand for coal was also a factor.

World’s Largest Coal Mining Company Decides to Invest in Solar Energy Market

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World’s Largest Coal Mining Company Decides to Invest in Solar Energy Market

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With billions in loans, China is rebuilding Nigeria’s railway network from scratch, abandoning the British colonial tracks that have turned to scrap and creating a corridor of over 1,300 km to take the load off the roads of Africa’s largest economy.

A British company has installed in the middle of the ocean the world’s first floating platform that generates electricity 24 hours a day from the temperature difference between the surface and the depths of the Atlantic, without relying on wind or sun.

China is building an artificial island in the middle of the sea, covering 20 km², to construct the largest offshore airport in the world, the Dalian Jinzhouwan. This $4.3 billion project is anchored on more than 3,000 pillars embedded in the rock beneath the ocean and is scheduled to open in 2035.

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A robot named Walter does the work of five bricklayers per hour and can save the construction industry, where the average age of professionals is 46 years and almost no one wants to learn the trade anymore, in the United Kingdom.

Austrian engineers have developed an inflatable concrete technology that transforms flat slabs into domes using only air pressure, eliminating scaffolding and temporary forms, and potentially changing the way bridges, tunnels, and curved roofs are constructed worldwide.

The James Webb telescope spotted a planet 700 light-years from Earth with mornings full of sand clouds and nights with clear skies, the temperature difference between the two hemispheres reaches an impressive 170 degrees.

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At 30 km altitude and nearly 7,000 km/h, the 14-X demonstrator of the Brazilian Air Force tested a scramjet engine without moving parts in Alcântara, in a project with the ambitious goal of reaching Mach 10, which has just received a historic investment of R$ 93 million from Finep.