economy
India fuels worldwide jump in planned coal production
Rise in new mine proposals, mainly in states of Odisha and Jharkhand, comes despite plateau in global demand
TL;DR
- Global proposals for new coalmines increased by 11% last year, enough to add 2.5 billion tonnes annually.
- India, specifically Jharkhand and Odisha, spearheaded this increase to meet rising domestic electricity demand and support economic growth.
- Despite increased proposals, the actual startup of new coalmining projects worldwide fell by 40% last year, reaching a decade low.
- Wind and solar power surpassed coal in global electricity generation for the first time last year.
- Experts suggest the economic rationale for coal expansion is weakening as low-cost clean energy grows, urging governments to cancel potential new projects.