The best of EcoWatch, right in your inbox. Sign up for our email newsletter!
World's Biggest Coal Company Closes 37 Mines as Solar Prices Plummet
Coal India, the world's biggest coal mining company and producer of 82 percent of the country's coal, announced the closure of 37 mines that are financially "unviable."
The sites make up roughly nine percent of the total mines operated by Coal India. The company is expected save Rs 800 crore ($124 million) from the closures.
India's energy market is undergoing a rapid transformation as it moves away from fossil fuels. Last month, the country cancelled plans to build nearly 14 gigawatts of coal-fired power stations.
Notably, solar has been cheaper than coal-based electricity in India for the past several months. According to Quartz:
"At an auction for 500 megawatt (MW) of capacity at the park on May 12, the state-run Solar Energy Corporation of India (SECI) managed to discover a record-low tariff of Rs 2.44 per kilowatt-hour (kWh). The previous low was two days before that when tariffs hit Rs 2.62 per kWh during auctions for another phase of Bhadla solar park.
"The country's largest power company, NTPC, sells electricity from its coal-based generation units at a princely Rs 3.20 per kWh."
The National Thermal Power Corporation of India said that the country currently hosts a solar power capacity of 845 megawatts, after the recent addition of a 225 megawatt solar farm, the Mandsaur Solar Power Project.
"India's solar sector has received heavy international investment, and the plummeting price of solar electricity has increased pressure on fossil fuel companies in the country," as The Independent reported. "The government has announced it will not build any more coal plants after 2022 and predicts renewables will generate 57 percent of its power by 2027—a pledge far outstripping its commitment in the Paris climate change agreement."
EcoWatch Daily Newsletter
Which conventionally-grown fruits and vegetables in the U.S. are most contaminated with pesticides? That's the question that the Environmental Working Group answers every year with its "Dirty Dozen" list of produce with the highest concentration of pesticides after being washed or peeled.
Judge Blocks Oil and Gas Drilling on 300,000 Acres in Wyoming Until Government Considers Climate Impacts
Global Banks, Led by JPMorgan Chase, Invested $1.9 Trillion in Fossil Fuels Since Paris Climate Pact
By Sharon Kelly
A report published Wednesday names the banks that have played the biggest recent role in funding fossil fuel projects, finding that since 2016, immediately following the Paris agreement's adoption, 33 global banks have poured $1.9 trillion into financing climate-changing projects worldwide.
By Patti Lynn
2018 was a groundbreaking year in the public conversation about climate change. Last February, The New York Times reported that a record percentage of Americans now believe that climate change is caused by humans, and there was a 20 percentage point rise in "the number of Americans who say they worry 'a great deal' about climate change."
England faces an "existential threat" if it does not change how it manages its water, the head of the country's Environment Agency warned Tuesday.
By Jessica Corbett
A new analysis revealed Tuesday that over the past two decades heat records across the U.S. have been broken twice as often as cold ones—underscoring experts' warnings about the increasingly dangerous consequences of failing to dramatically curb planet-warming emissions.
By Madison Dapcevich
Ask any resident of San Francisco about the waterfront parrots, and they will surely tell you a story of red-faced conures squawking or dive-bombing between building peaks. Ask a team of researchers from the University of Georgia, however, and they will tell you of a mysterious string of neurological poisonings impacting the naturalized flock for decades.