Coal India, the world’s largest coal producer, is closing 37 of its 430 mines.
These mines are no longer economically viable. The move will save the company around $124 million.
This decision is driven by growing environmental pressures and the rise of renewable energy. Solar power is now 50% cheaper than coal in India.
As a result, India is becoming a major player in the solar market.
The government plans to stop building new coal plants after 2022. By 2027, 57% of India’s power will come from renewable sources.
Last month, nearly 14 gigawatts of coal-fired power projects were canceled.
Prime Minister Narendra Modi is committed to …
