The ministry even evoked Section 11 of the Electricity Act allowing all power generators to pass through the high cost of imported coal on the consumers.
But the constant policy flips over coal imports has fazed the state-owned and private gencos with a cumulative capacity of 108 gigawatt which cannot afford costly imports and are also not paid by discoms in time.
Yesterday, the PowerMin revoked all its earlier decisions on imported coal, leaving it upto the states and gencos to import coal, if need be.
It even told NTPC to reduce blending to 5% from 10%.
As @SoftBank takes away its #renewableenergy business from India today, looking back at the grand statement of free power that Masayoshi Son made barely 3 years back.
Curious to know how many times #CommercialMining in coal has been announced?
Here's the chronology:
2014 Coal Ordinance: business-standard.com/article/econom…
"under law, it is now permissible to mine coal for commercial purposes"
2017: Mines allotted for states to mine coal & sell to small industries. business-standard.com/article/econom…
Guess what happened to this? Never took off!
Why? Coz coal supply was surplus in the country!