New Era Cleantech emerges as flagbearer in coal gasification
As India accelerates its push towards energy security and industrial self-reliance, New Era Cleantech is emerging as one of the early frontrunners in the country’s coal gasification sector, buoyed by the Centre’s recently announced Rs 37,500 crore support package aimed at boosting the industry.
The company is developing a large integrated coal gasification and carbon capture, utilisation and storage (CCUS) project in Chandrapur, Maharashtra, positioning itself at the heart of India’s next-generation clean manufacturing and fuel transition strategy.
The ambitious project, launched during a groundbreaking ceremony attended by Maharashtra Chief Minister Devendra Fadnavis and Union Coal and Mines Minister G. Kishan Reddy, is being developed in two phases with an estimated investment of nearly $3 billion.
Founded and led by Balasaheb Darade, the company is positioning coal gasification not as a conventional fossil fuel project, but as a future-oriented industrial platform capable of converting domestic coal into methanol, hydrogen, synthetic fuels, fertilizers, chemicals and other strategic industrial feedstocks.
The development comes at a time when India is seeking to reduce its dependence on imported energy and industrial raw materials amid ongoing global supply chain disruptions and geopolitical uncertainty.
According to the company, the Centre’s policy push on coal gasification could help India reduce nearly Rs 1.5 lakh crore worth of annual imports spanning LNG, methanol, fertilizers and industrial chemicals, while strengthening long-term industrial resilience.
Speaking on the opportunity, Balasaheb Darade described the government’s coal gasification mission as a potentially transformative moment for the country’s industrial future.
He said the initiative could play a role comparable to the Green Revolution by helping India secure its energy, fertilizer and manufacturing ecosystem through large-scale utilisation of domestic resources.
New Era Cleantech has already secured nearly 1,650 acres of land for the Chandrapur project, along with access to a pit-head coal linkage, a critical factor in ensuring long-term fuel availability and cost efficiency.
The company has also received Rs 1,100 crore in viability gap funding support from the Ministry of Coal under the Government of India’s coal gasification incentive scheme.
In addition, it has signed a memorandum of understanding (MoU) with the Government of Maharashtra for setting up a urea and downstream chemicals complex linked to the project.
Officials said the project has already obtained environmental clearance and is steadily progressing towards implementation, with engineering work, technology integration and execution planning currently at an advanced stage.
The project aligns closely with Prime Minister Narendra Modi’s vision of Aatmanirbhar Bharat and India’s broader efforts to build a secure, diversified and self-sufficient industrial economy through indigenous energy solutions and clean manufacturing technologies.
