- Union power Minister Piyush Goyal targets a doubling in coal production to a billion tonnes by 2019 to meet India’s rising energy demands
- Government is concerned India may be saddled with nuclear technology discarded by West, needs clarity on life-cycle costs
- Goyal predicts demand for power will double to 2 trillion units by 2019, offering investors a $250 billion investment opportunity
Union power Minister Piyush Goyal is aiming to double coal production in the next five years to meet India’s burgeoning energy demands, set to hit 2 trillion units by 2019. Goyal called for an increasing private sector role in coal production and expressed interest in new gas discoveries and ways to get gas plants back onstream.
Referring to coal as “an essential input for power,” Piyush Goyal, Minister of State for Power, Coal, New and Renewable Energy of India, said: “I see Coal India production doubling in the next five years. It makes about 500 million tonnes hopefully this year. We [will] do a billion tonnes in 2019.”
Turning to renewable energy, Goyal announced a target of 100 gigawatts of solar power generation by 2022, multiplying the previous government’s target fivefold. However, the minister sounded a cautious note on nuclear power. Noting that the US and many European countries have discontinued installation of nuclear plants, he said: “This government would like to be cautious that we are not being saddled with something only under the garb of clean energy or alternate energy; something which the West has discarded and is sought to be brought to India.” He added that he has yet to determine the life-cycle costs of nuclear power right through to decommissioning.
See full Press Release:
http://www.weforum.org/news/minister-goyal-flags-doubling-coal-production-meet-energy-needs-cautious-nuclear
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