Author Archive: Kashish Shah

Energy Finance Analyst Kashish Shah has worked in the banking and public sectors in India and has a master’s degree in economics from the University of Sydney and an engineering degree from NMIMS University in Mumbai.

IEEFA: Battery storage and green hydrogen can boost India’s renewable energy efforts

Markets for grid-scale batteries and green hydrogen are taking shape in India

21 October (IEEFA India): Battery storage and green hydrogen – markets that are critical for India’s renewable future and energy security – could scale up rapidly in the country, bolstered by government policy and private company ventures, according to a new briefing note from the Institute for Energy Economics and Financial Analysis (IEEFA). “Grid-scale energy […]

IEEFA India: Proposed power market reforms could reduce renewable energy costs further

Increased competition will raise the stranded asset risk for expensive coal plants

9 September 2021 (IEEFA India): Two proposed reforms to the design of India’s electricity market – a national system of market-based economic dispatch (MBED) for procuring bulk power and new regulations for Frequency Control Ancillary Services (FCAS) – are positive developments that will help pave the way for the rollout of large-scale, ultra-low cost variable […]

and September 9, 2021 Read More →

IEEFA: Understanding India’s latest peak power demand record

Ramping up solar will be crucial as peak power demand hits during the day

At around noon on 7 July 2021, India’s instantaneous power demand touched a historic high of 200 gigawatts (GW), beating the previous all-time high of 197GW which had been reached only the day before. These two consecutive days of record-breaking peak demand marked a sharp increase from the high of 190GW in financial year (FY) […]

IEEFA India: Exiting old coal power purchase agreements could save electricity distributors over US$7 billion per year

Allowing distributors to leave end-of-tenure PPAs will accelerate retirement of ageing coal plants

The decision by India’s central power regulator to allow BSES, Delhi’s largest electricity distribution company (discom), to exit a 25-year-old power purchase agreement (PPA) with NTPC’s Dadri-I power plant potentially opens the floodgates to the relinquishment of end-of-tenure thermal PPAs. This is a welcome move that could accelerate the closure of old, inefficient coal power […]

IEEFA India: Overestimated LCOEs of coal-fired power plants create a financial bubble

Massive stranded asset risk detrimentally affects the financial and power distribution sectors

7 July 2021 (IEEFA India): India’s future coal-fired power project pipeline carries a massive stranded asset risk due to the collapse in the average utilisation rate of its coal-fired power fleet leading to an underestimation of financial risk for new projects, finds a new report from the Institute for Energy Economics and Financial Analysis (IEEFA). […]

IEEFA: Repowering India’s top wind sites could add 30 gigawatts of capacity

Older turbines could be replaced to boost wind power generation and reach renewable energy targets

India’s wind power sector is ailing. Wind capacity commissioning has been moving at a snail’s place in the last four years with less than 2 gigawatts (GW) of annual capacity additions. This is significantly off-track from the 11-12GW needed annually to reach the target of 140GW of wind power capacity by 2030, to drive the […]

June 22, 2021 Read More →

IEEFA: Powering up solar irrigation effort will support India’s renewable energy targets

States must overcome obstacles to ramp up installation of solar pumps

11 June 2021 (IEEFA India): India’s mission to deploy some 2 million off-grid solar-powered irrigation pumps is making sluggish progress, with only one-eighth of the target achieved so far, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA) which urges the central and state governments to remove bottlenecks in […]

IEEFA: New coal-fired power plants in India will be economically unviable

Coal capacity additions face major stranded asset risk

4 June 2021 (IEEFA India): 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 […]

IEEFA: India’s battery storage market is a sleeping giant

The states must take up the mantle of utility-scale battery deployment

Grid integration of large-scale variable renewables will be one of India’s biggest challenges as it aspires to decarbonise its power economy through deployment of 450 gigawatts (GW) of renewable energy (RE) by 2030. Reaching this target from the current installed renewable capacity of 93GW will require average annual renewable capacity additions of ~35GW. The International […]

IEEFA: There’s no way out for India’s stranded thermal power assets

Investors are increasingly unwilling to risk capital in a sector with US$40-60 billion of non-performing assets

India’s 40 gigawatts (GW) of stressed and stranded thermal power assets, identified by a special parliamentary committee in March 2018, still linger on – most of them without any feasible resolution. The multitude of fundamental problems still persist despite efforts to resolve them by the government, lending institutions and proponents of the projects. These include […]

March 29, 2021 Read More →