With the window for using coal closing fast, the Union Cabinet on Wednesday approved a 8,500 crore viability gap funding (VGF) scheme for coal gasification.
In another decision, the Cabinet Committee on economic affairs (CCEA) also approved an equity investment of ₹3,799.64 crore by Coal India Ltd for setting up coal gasification joint ventures with GAIL (India) Ltd and Bharat Heavy Electricals Ltd (BHEL).
The push to leverage coal resources comes at a time when the Indian economy is projected to grow at 7%, becoming the third largest economy by 2030, with a focus on involving the private sector to reduce carbon emissions.
This also assumes against the backdrop importance of the global energy landscape undergoing a transition amid growing climate concerns, and a focus on environmental, social and governance (ESG) investing.
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Denne historien er fra January 25, 2024-utgaven av Mint Mumbai.
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