India's Vedanta will keep coal as its base energy source despite clean energy push

Vedanta, an Indian mining and metals company, will continue to use coal as the primary source of energy for its mining operations. However, it aims to increase its share of renewable energy sources in its energy blend, according to a senior executive on Tuesday.

Deshnee Niaidoo said that coal accounts for almost 70% of Vedanta’s energy mix in an interview at the FT Live Energy Transition Summit India.

Naidoo stated that coal will be the main contributor to Vedanta's baseload.

Naidoo stated that the company plans to increase the share of renewables in its operations, by reducing the dependence on coal power to 50-60% within the next three or four years.

Vedanta aims to shift away from fossil fuels, such as solar, wind, and hybrid models, in order to achieve its decarbonisation objectives.

The company is also investing heavily in low-carbon materials, such as aluminum and zinc. It uses renewable energy, hydrogen, and other technologies in its manufacturing process.

Naidoo stated that Vedanta has increased production of low-carbon products, which are less than 20 percent of total company output.

The company has begun exploring the possibility of similar energy transitions for its overseas operations.

Vedanta plans to build in Zambia a 300 megawatt power plant - with coal and renewables equally split - as a way to support the expansion of its mining operations.

ZAMBIA COPPER UNIT, LITHIUM MINING

Naidoo reported that Vedanta Resources had restored the copper production of its Zambian unit at levels last seen in 2018. The company plans to increase production to 300,000 tons in the next three-year period.

The executive stated, "We are absolutely in production."

Naidoo stated that the company did not have an exact timeline for listing this unit.

Naidoo stated that India has yet to show its exploration potential. Sethuraman N.R., Jacqueline Wong, and Shinjini G. Ganguli edited the article.

(source: Reuters)