Coal will eventually be on the backburner in power generation in India with renewable sources taking the center stage.
In a recently published report, the Tata Energy and Resources Institute (TERI) has claimed that power plants to be set up after FY24 will most likely be renewable energy based. Moreover, TERI also said that no more new investment in coal-based power plants will be made before FY24, thus ruling out prospects of increasing coal consumption by the power sector in the country.
The report also details that renewable power generation is also increasing in the country to cater to the rising demand for power, which is expected to go up to 3,175 billion units by FY30. By FY22, renewable energy generation capacity in India is projected to reach 125-175 GW in the TERI report. Renewable power generation hitherto stands at 50 GW in the country.
In India, coal consumption during the Apr-Dec’16 period was at 590 MnT. The consumption during FY16 was at 596.4 MnT.
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