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Era of coal shortage is over: Piyush Goyal [Infrastructure]
In October, coal imports fell for the fourth consecutive month by 5.1 per cent to 14.52 million tonnes over same month year ago, mainly due to an increase in domestic production.
India would not need to import coal by 2017, except to meet requirements of power plants located near the coastal area.
India, which is the third-largest producer of coal after China and the US, had imported 212.103 million tonnes of coal worth over Rs.1 lakh crore last fiscal.
A KPMG India report titled ‘The Rising Sun - Disruption on the Horizon’ highlights that solar could scale up substantially to be a significant energy source by 2025, with the market penetration of solar power expected to be 5.7 per cent (54 GW) by 2020 and 12.5 per cent (166 GW) by 2025.
The reports added that solar power was likely to contribute 4 per cent towards India’s target to reduce emission intensity of its GDP by 33 to 35 per cent by 2030 from 2005 levels.
Mr. Goyal said India’s renewable energy capacity target of 175 GW by 2022 is not only doable but necessary also in view of the energy security of the country.
Also, the government was working with the NITI Aayog to draw a blueprint for energy policy in the country.