Adani forms JV with Carbon Energy to bid for UCG projects

Adani forms JV with Carbon Energy to bid for UCG projects

"The two firms have inked a MoU for a strategic joint venture, where they shall jointly be bidding in tendering process for UGC projects likely to be announced on tenements of Coal India Limited (CIL)," a company official said here.

"The MoU is for a period of 18 months during which it is anticipated that Adani group and Carbon Energy will jointly submit bids for establishing UCG project on the Coal India tenements in India," he said.

UCG is a process of converting un-worked coal into a combustible gas which can be used as a fuel for heating, power generation, manufacture of hydrogen or even diesel fuel.

"Adani has selected Carbon Energy as technology partner for important submissions to Coal India, as it is the leading proponent of UCG globally," Adani Group President-Corporate Planning Harsh Mishra, said in a statement.

"The company has superiority in UCG technology based on extensive research conducted in conjunction with Australia’s CSIRO," he said.

The Adani Group has already signed contracts to mine, move and supply around 110 million tonnes of coal per year for use by the government owned power utilities in India, a company statement said.