Union Cabinet Committee of Economic Affairs (CCEA) approved setting up of 2 maiden power generation units by Coal India Ltd. with 22000 Cr investment.
Coal India, since its inception in 1975, is into mining and suppling of coal to other power generating units.
But considering increasing energy requirements of growing India, Centre has been pushing for building more power generation capacity and as a result Coal India ltd for the first time will enter into power generation via two captive thermal power projects.
In 2023, India's peak electricity demand reached an all time high of 241 Gw.
Although along with this, Center has been pushing for increasing renewable power capacity and has planned to set up 500 Gw of renewable power by 2030.
Fact: By market capitalization, the biggest coal mining company in the world is China Shenhua Energy at $87.8 billion.
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