New Delhi: According to sources familiar with the matter to Bloomberg news agency, Adani, one of India’s largest coal producer, has won a contract to supply foreign coal to state-run NTPC, as the country aims to recover from last year’s energy crisis. Repetition is to be avoided.
Quoting sources, Bloomberg said Adani Enterprises will supply one million tonnes of coal to NTPC, which in October floated its first tender to import coal in more than two years.
Kolkata-based state-owned power producer Damodar Valley Corporation is also examining a proposal by Adani to supply coal in equal quantities to its power plants, sources said.
Read also | India’s services sector growth slows in December, PMI at 55.5 Feather
However, Adani, NTPC and DVC did not respond to requests seeking comment.
The country’s electricity generators are under pressure to stockpile coal after supply disruptions and rising demand left the country reeling from shortages in the second half of 2021, leading to power shortages in some provinces and restrictions on energy-hungry industries. Put.
Despite the government’s commitment to reduce dependence on fuel imports, the decision has been taken to purchase coal from abroad.
Coal accounts for about 70 per cent of India’s electricity generation, and consumption is projected to increase over the next few years, even as Prime Minister Narendra Modi is making a major push to add renewable energy.
Adani last month began shipping the first export cargo from its controversial Carmichael coal mine in Australia. The shipment is headed towards India, one of the sources familiar with the development said without giving details of the buyers.
Benchmark marine coal prices hit a record low in October, though those gains have since waned, helping boost the case for imports.
,