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Vibhuti Garg
What’s behind the recent increase?
Solar tariffs are deflationary. Prices have fallen by 75% in seven years in India, and in 2020 solar tariffs hit record lows. From 2019 to the first quarter of 2020, most of India’s newly-auctioned solar projects saw tariffs in the range of Rs2.5-2.87/kilowatt hour (kWh). Then in February 2020, the Ministry of New and Renewable Energy […]
IEEFA
Bloomberg Quint: NTPC Ltd., India’s largest power generator, has increased its target for renewable energy capacity to 60 gigawatts by 2032, accelerating a shift away from coal. The New Delhi-based company increased the target from 32 gigawatts set earlier, and the plan had been approved by the company’s board, finance director A.K. Gautam told analysts […]
Kashish Shah and Press Release
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 […]
Tim Buckley
While India doesn’t rely on export credit finance to fund new coal plants, there are material implications
The commitment by the Group of Seven (G7) nations, along with several other European Union nations, to stop international financing of coal power projects by the end of this year is another strong step towards putting the world on a path to limit global warming to 1.5-2.0°C. The agreement follows the International Energy Agency’s (IEA) […]
Guest Commentary: Gireesh Shrimali
Coal power producers face lower credit ratings under Paris-aligned energy transition
Climate change has created financial risks for business. These can be broadly categorised as physical and transition risks. Physical risk is easier to understand. It is essentially the impact of a changing climate on revenues as well as costs. A simple example is higher real estate operating costs due to increasing damages from floods under […]
Kashish Shah
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 […]
IEEFA
The Hindu Business Line: NTPC Southern Region, which is in the process of implementing about 450 MW of solar capacity, is all set to commission about 217 MW floating solar capacity, including one of the largest floating solar power plants of 100 MW at Ramagundam by May this year. “These floating solar projects are coming […]
Guest Commentary: Gireesh Shrimali
Nearly half of existing coal power in India is more expensive than new renewable power
To get to its ambitious climate targets, India not only needs to do more renewables – and by the term ‘renewables’ we mean all clean generation technologies including battery storage, green hydrogen, smart grids and energy efficiency – but also less fossils. Further, India needs to drive electrification of the transport sector to reduce its […]
Press Release, Tim Buckley and Saurabh Trivedi
The key domestic and international institutions driving renewable energy growth in India
16 February 2021 (IEEFA India): A huge global capital pool is mobilising to invest in renewable energy and grid projects in India, according to a new IEEFA report, with pull factors including solar power tariffs hitting record lows, plunging solar module costs, record low interest rates, and the security of government-backed, 25-year power purchase agreements (PPAs). […]
IEEFA
Bloomberg: India’s use of coal may have peaked in 2018, according to a new report by U.K.-based clean energy group Ember. That’s sooner than many experts have forecast. The share of the dirtiest fossil fuel in India’s power mix fell for the second year in a row in 2020, according to the report released on […]
IEEFA: New coal-fired power plants in India will be economically unviable
Coal capacity additions face major stranded asset risk4 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 […]