India suspends plans to build new coal-fired power plants for five years. They bet on renewables
The Indian government has formally declared its decision to abstain from constructing new coal power plants over the upcoming five-year period. Instead, the government is directing its efforts towards fostering the growth of the renewable energy sector. This strategic stance has been enshrined in the country’s revised energy policy, highlighting India’s commitment to shifting its energy landscape toward more sustainable alternatives.
The temporary halt in the expansion of coal-fired power plants has been applauded by experts as a momentous stride for the nation. Presently, around 75% of India’s electricity is generated from coal-fired power plants. This pause signifies a crucial move towards diversifying the energy mix and aligning with more sustainable practices in the country.
India holds the sixth position on the notorious list of the world’s largest CO2 emitters. The national government has put forth the ambitious target of achieving net zero emissions by the year 2070. This commitment reflects India’s determination to significantly mitigate its contribution to global greenhouse gas emissions and make substantial strides towards a more sustainable future.
renewables instead of coal
In September 2022, Indian authorities revealed their plan to establish nearly 8,000 megawatts (MW) of installed capacity in coal-fired power plants by 2027. However, in alignment with the updated energy policy, this approach has been revised in favor of prioritizing energy storage systems with a capacity of 8,600 MW instead. This shift underscores India’s commitment to adopting cleaner and more sustainable energy solutions for the future.
The Indian government has communicated its intention to vigilantly monitor developments within the global energy markets. The formulation of a comprehensive long-term energy strategy will be deferred until after the year 2027, factoring in various external influences that can significantly shape the energy landscape. This strategic approach highlights India’s dedication to making well-informed decisions that align with evolving global dynamics.