<p>New Delhi: Indian state government-run Odisha Coal and Power Ltd (OCPL) is looking to sell surplus coal from its mine in eastern India at a discount, an auction document showed, indicating lower demand for the fuel in the country.</p>.<p>OCPL will auction 3 million tons of its surplus coal via online auctions on Oct 4 for power plants at a 15 per cent discount to the base price on the national coal index, according to an auction advertisement in the <em>Times of India</em> newspaper on Sunday.</p>.<p>India's total domestic coal production rose 7.12 per cent from a year ago to reach 370 million metric tons between April 1 to Aug. 25, according to coal ministry data.</p>.Inox Wind inks pact with ICICI Bank-led consortium for Rs 2,200 cr finance facility.<p>The sale indicates high supply and reduced demand, said Riya Vyas, senior analyst at iEnergy Natural Resources Ltd.</p>.<p>"At the moment, electricity demand from coal-fired power plants is limited, while domestic production has increased as the rains subside," Vyas said, referring to the ending of the annual monsoon.</p>.<p>The country's coal production in the last fiscal year to March 31 rose to a record 997.828 million tons, a 12 per cent rise from a year ago. More than 75 per cent of India's power generation was from coal in 2023.</p>.<p>India imported 176 million tons of thermal coal in 2023, driven mainly by power plants.</p>.<p>India's thermal coal imports are expected to fall this year for the first time since the COVID-19 pandemic due to increasing domestic output and record high inventories. </p>
<p>New Delhi: Indian state government-run Odisha Coal and Power Ltd (OCPL) is looking to sell surplus coal from its mine in eastern India at a discount, an auction document showed, indicating lower demand for the fuel in the country.</p>.<p>OCPL will auction 3 million tons of its surplus coal via online auctions on Oct 4 for power plants at a 15 per cent discount to the base price on the national coal index, according to an auction advertisement in the <em>Times of India</em> newspaper on Sunday.</p>.<p>India's total domestic coal production rose 7.12 per cent from a year ago to reach 370 million metric tons between April 1 to Aug. 25, according to coal ministry data.</p>.Inox Wind inks pact with ICICI Bank-led consortium for Rs 2,200 cr finance facility.<p>The sale indicates high supply and reduced demand, said Riya Vyas, senior analyst at iEnergy Natural Resources Ltd.</p>.<p>"At the moment, electricity demand from coal-fired power plants is limited, while domestic production has increased as the rains subside," Vyas said, referring to the ending of the annual monsoon.</p>.<p>The country's coal production in the last fiscal year to March 31 rose to a record 997.828 million tons, a 12 per cent rise from a year ago. More than 75 per cent of India's power generation was from coal in 2023.</p>.<p>India imported 176 million tons of thermal coal in 2023, driven mainly by power plants.</p>.<p>India's thermal coal imports are expected to fall this year for the first time since the COVID-19 pandemic due to increasing domestic output and record high inventories. </p>