World's Largest Coal Miner Coal India Bets on Solar, Eyes Further Mine Closures -
"Pramod Agarwal said its joint venture with state-run NLC India Ltd plans to invest around 125 billion rupees ($1.73 billion) in solar power projects with a capacity of 3,000 megawatts, of which Coal India will invest some 60 billion rupees by March 2024."
Why this is important: Coal India Ltd. is the world's largest coal mining company, but it believes solar is the future for power production. The company has closed 82 mines the past three years, resulting in 18,600 job losses. It plans to continue evaluating mines for closure. The company now plans to enter into a $1.73 billion (U.S.) joint venture to build a 3,000 MW solar farm. Coal India says it believes ultimately solar will replace coal-fired electrical generation plants.
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