Kolkata, 26 Nov. Coal India Limited (CIL) Chairman Pramod Agrawal said that the company would be investing Rs 1000 crore this year in the solar thing.
“Solar, we are doing on the two fronts, one in our own solar power plants for own consumption and bidding for others,” Agrawal said during an earnings conference call. In its own consumption, CIL have tendered out about 175 megawatt of this, and some of the tenders have been finalized somewhere, in some cases they have got very high price, he added.
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“I would not be able to tell you how much we have finalized, but about 175 megawatt is in pipeline for our own consumption, which we are installing on areas, spaces that we have in our coal field area,” Agrawal said.
And secondly, CIL have got this 100 megawatt in Gujarat which they are likely to complete before next April. “So, about 450 crore will be invested in that. So that way I am looking at about 1000 Crores investment this year in solar thing,” the CIL Chairman said.
When asked how soon could CIL be ready for the 1 billion tonne target of coal production, Agrawal said: “Earlier we were planning for 2023 to 2024, but that seems to be completely unreasonable, we are targeting for 2024 to 2025, but it will depend largely on how the demand scenario pans out.”
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The company cannot produce coal and keep it. So last year it produced by 576 million but ended the year with a stock of 100 million tonne. This year, CIL is thinking to produce something in range of 640 million ton.
“Let us see what is the stock position. If the stock position is not good, definitely the next year, the production will increase, but 1 billion ton, we are targeting for 2024, 2025 depending on the demand in the country,” Agrawal said.
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