Singareni Coal Miners Diversify into Green Energy, Critical Minerals
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In a bid to break free from its coal mining legacy, the 130-year-old Singareni Collieries Company Limited (SCCL) has established two new subsidiaries. The company, a Telangana state-owned public sector undertaking, has floated Singareni Green Energy Company Limited and Singareni Global Limited to foray into green energy and critical mineral mining. The new subsidiaries were registered last week, clearing the way for their formation. Singareni Green Energy Company Limited will focus on operating solar power and other renewable energy projects, both domestically and internationally. Meanwhile, Singareni Global Limited will concentrate on overseas mining operations, particularly in the areas of critical minerals, rare earth elements, and allied businesses. The Union ministry of coal has given a thumbs-up to Singareni's expansion plans. A senior official from the ministry expressed hope that the new entities will operate profitably. In a related development, SCCL has signed two preliminary agreements with the Industrial Promotion and Investment Corporation of Odisha Limited (IPICOL) for the establishment of thermal and green energy power projects with a combined capacity of 4,900 MW in Odisha. The company plans to set up a 2,400 MW ultra-supercritical thermal power plant linked to the Naini coal block, which is being developed in Odisha. Telangana deputy chief minister Bhatti Vikramarka Mallu, who holds the energy portfolio, has announced plans to study the feasibility of setting up a thermal power plant at the pit-head of the Naini coal block. The state government has also proposed large-scale green energy generation in Odisha, including solar, floating solar, wind, and pumped storage power projects.
