• Moody’s Investors Service have revised its growth forecasts for India to 5.4% for 2020 and 5.8% for 2021, down from its previous projections of 6.6% and 6.7%, respectively.
  • Moody’s also revised its global growth projection, saying that the coronavirus outbreak has diminished optimism about prospects of an incipient stabilization of global growth this year. It expects G-20 economies to collectively grow 2.4% in 2020, followed by a pickup to 2.8% in 2021. It has reduced growth forecast for China to 5.2% in 2020 and 5.7% in 2021.
  • The government will set up ultramega renewable energy parks of a total of 50 gigawatt (GW) in Gujarat and Rajasthan, people familiar with the development said.

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  • Coal India will increase spot e-auction offerings in the current quarter to 15% of the year’s production, a top company executive said. In the three quarters till end-December 2019, the company had offered about 12% of its production for auctions. Spot auction offers accounted for almost 46% of the quantity offered for auctions till December, while the rest was a mix of special forward e-auction for the power sector, exclusive e-auction for non-power and special e-auction. Till December, it had offered close to 46 MT through auctions, of which the booked quantity was 44 MT.
  • Coal India’s daily output is expected to rise to three million tonnes (MT) next month, enough to run a 660-MW power plant for a year as the state-run miner focuses on expansion of projects and increasing production
  • In January, Coal India clocked a double-digit growth in output for the first time in this fiscal. It now plans to increase stocks at thermal power plants to 30 days and reduce pending supplies to non-power consumers to zero by March
  • Policy certainty will increase domestic and international investing into India, a new report by the Institute for Energy Economics and Financial Analysis (IEEFA) said.
  • The report, India’s Renewable Energy Policy Headwinds – Recommendations for Urgently Accelerating Activity in the Renewable Energy Sector, finds a number of recent policy positions that have undermined growth in this sector.
  • India’s renewable energy sector requires $500 billion to $700 billion of new investment by 2030 to meet its massive target of 450 gigawatt (GW) capacity, according to the Institute for Energy Economics and Financial Analysis (IEEFA).