Clean energy consultancy Bridge To India has lowered India’s solar and wind power capacity addition estimate over 2020-2024 citing weak economic outlook and further slowdown in power demand. It said the domestic energy sector has been hit by multiple demand and supply shocks, sharp reduction in power demand, delays in construction activity, and deferred payments across the value chain.
Minister of Petroleum and Natural Gas & Steel, Dharmendra Pradhan has stressed on increased usage of domestic steel for meeting requirements of the oil & gas sector. He said that Steel and Oil & Gas sectors have a close linkage, and it is time to take it to a new height.
Environment Minister Mr Prakash Javadekar defended his Ministry’s recent notification scrapping the mandatory requirement of supplying washed coal to all thermal units more than 500 km away from the coal mine.
The All India Power Engineers Federation has appealed to the prime minister to put the draft Electricity (Amendment) Bill on hold as it is against the federal structure of the country wherein electricity is a concurrent subject. The Ministry of Power had circulated the draft bill for feedback of the stakeholders in April this year.
Weak logistics support and disrupted supply chain towards the end of the last financial year 2019-20 hit the government’s plan to cut coal imports and boost domestic production. India imported about one-fourth of its domestic coal requirements in the last fiscal, mainly due to shortfall in coal production and logistical constraints in evacuation infrastructure, said a report by Care Ratings. While coal production in India remained flat, rising marginally by 0.1% in FY20, imports surged 3.3%.
As industries and businesses slowed down during the nationwide lockdown, the demand for fuel and power took a major hit, deflating prices by around 20% on-year in May 2020. The prices of crude petroleum and natural gas fell 23.18% in May, compared to March 2020, according to the Ministry of Commerce & Industry.