June 3, 2021 Read More →

Experts warn new coal plants

NS Energy: 

New coal-fired power plants being built in India will soon be “economically unviable”, according to a report.

The analysis by the Institute for Energy Economics and Financial Analysis (IEEFA) warns that much of the South Asian nation’s 33 gigawatts (GW) of coal-fired power capacity currently under construction and a further 29GW in the preconstruction stage will “end up stranded”.

The country, which is the third-highest emitter, has been continuing to back the high-polluting fossil fuel despite its ambitious renewable energy targets and the global efforts to reduce emissions.

“Coal-fired power simply cannot compete with the ongoing cost reductions of renewables,” says Kashish Shah, IEEFA research analyst and report author. “Solar tariffs in India are now below even the fuel costs of running most existing coal-fired power plants.

“In the past 12 months no new coal-fired power plants have been announced, and there has been no movement in the 29GW of preconstruction capacity. This reflects the lack of financing available for new coal-fired power projects, and also the flattening of electricity demand growth, which has impacted coal the most.”

[James Murray]

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