Just energy transition: economic implications for Jharkhand
This report provides the following broad recommendations on how the adverse effects of an energy transition in the state of Jharkhand could be minimized which include: State-owned mining and power generation companies leveraging their large balance sheets and in-house expertise to diversify into other related businesses, that are likely to gain from the transition, such as energy storage, green hydrogen, clean mobility, and solar energy. The state government of Jharkhand needs to develop a transition plan that bridges the gap between projected revenue and expenditure in the medium-to long-term by attracting new low-carbon businesses, and creating new opportunities that foster sustainable economic pathways. State-owned large employers such as NTPC, DVC, CIL, and its subsidiaries, etc., along with the state government, could develop initiatives /programs for skill development and reskilling of the entire workforce, including for contractual or indirect employees.
