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Axis, Reliance Bid Big in Coal Gasification Auction
24 Dec
Summary
- Axis Energy and Reliance Industries were top bidders in India's coal auction.
- Auction aimed to boost coal gasification for cleaner fuels like syngas.
- Government targets 100 million tonnes of coal gasification by 2030.
Hyderabad-based Axis Energy Ventures and Reliance Industries Ltd. were the top bidders in India's recent coal block auction, focused on advancing coal gasification. These companies jointly bid for 17 blocks across Odisha, Chhattisgarh, and Andhra Pradesh, demonstrating significant interest in utilizing coal for cleaner energy derivatives like syngas and hydrogen.
The Ministry of Coal offered 41 mines in this auction, notably including provisions for underground coal gasification (UCG) for the first time. This initiative supports the national goal of gasifying 100 million tonnes of coal by 2030, aiming to decrease reliance on imported natural gas and crude oil.
With 49 bids received for 24 blocks, the strong participation from private sector players like Axis Energy and Reliance Industries highlights growing confidence in India's coal gasification policies and the future demand for industrial fuels. The auction's outcome is anticipated to accelerate investments in cleaner coal technologies.
