Sasol will start producing 3.5 tonnes per day of green hydrogen from its Sasolburg plant in South Africa in the second half of 2023.

"We have earmarked 70% of this investment for the energy transition space," Gautam Adani said.

No one saw coal prices of $400 to $600 per tonne coming, including those in the coal industry.

A proposed pipeline of coal mine projects in Australia, the world’s second-biggest exporter of the fuel, are threatening to lock in decades of new carbon emissions.

The recently or soon-to-be completed plants will emit about 140 million tons of CO2 a year in total.

The haul for August was 68% higher than a year ago and included a record amount of coal.

Buyers all over Asia, and some from Europe, flew into Bali to hunt for any coal supply they can secure ahead of winter.

The investment includes installing an additional 2-3 gigawatts of renewable energy generation and battery storage.