Temperatures in parts of the region rose above 40 degrees Celsius in late April, earlier than usual, causing widespread infrastructure damage and power outages.
Critics have previously pointed to the ambiguity on corporate financing, potentially providing a loophole for banks lending to pure-play coal miners.
Buyers in Europe and beyond are now vying to pay top dollar for coal, often from remote places that until now hardly even shipped the fuel.
The move shows one way in which Russia could continue to sell commodities abroad without settling in U.S. dollars despite restrictions aimed at freezing it out of financial markets.
New hybrid work models adopted since COVID-19 struck in 2020 have resulted in millions of Indians working from home, boosting residential daytime power use.
The country has traditionally seen peak demand late in the evening when people head back home but that has shifted to mid-afternoon when temperatures are hottest.
Workers reached their boiling point when tainted food sickened over 250 people, leading to a protest that shut down a plant where 17,000 had been working.
Coal's contribution to electricity generation in India fell for the second straight year in 2020, yet the fuel accounts for nearly three-quarters of its annual power output.
Indian aluminum producers including Hindalco Industries and Vedanta Ltd. are boosting sales to Japan as U.S. sanctions against Russia's Rusal and import tariffs shake up traditional supply routes. India's product has generally not been regarded as high enough quality by Japan's demanding buyers, who have ...
