New coal-fired power plants in India: reality or just numbers?
Much of India’s 33 gigawatts (GW) of coal-fired power capacity currently under construction and another 29GW in the preconstruction stage will end up stranded, according to a new briefing note by the Institute for Energy Economics and Financial Analysis (IEEFA). Coal-fired power simply cannot compete with the ongoing cost reductions of renewables. Solar tariffs in India are now below even the fuel costs of running most existing coal-fired power plants, says Research Analyst at IEEFA. In the last 12 months no new coal-fired power plants have been announced, and there has been no movement in the 29GW of preconstruction capacity.