India’s Electricity Transformation

“In other words, under the Plan, there will still be a big increase in power from fossil fuels, nearly all of which will be coal.”

“So what about all of these cancellations of coal plants? I’m afraid this is all rather fake news.”

Handy analysis of Indian power generation and their greenwashing endeavors to 2027…

NOT A LOT OF PEOPLE KNOW THAT

By Paul Homewood

Renewable proponents are getting excited about the latest news from India:

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The Indian energy market transformation is accelerating under Energy Minister Piyush Goyal’s leadership.

The most recent and most persuasive evidence is the collapsing cost of solar electricity—a collapse that has gone beyond anyone’s expectations, and the results are in: solar has won.

The global energy market implications are profound.

Recent events have given manifest life to Mark Carney’s landmark 2015 speech in which Carney, the governor of the Bank of England, warned of stranded-asset risks across the coal industry. This month alone has seen the cancellation of 13.7 gigawatts (GW) of proposed coal-fired power plants across India and an admission that US$9bn (8.6GW) of already operating import-coal-fired power plants are potentially no longer viable.

To put an Australian and a global seaborne thermal coal-trade perspective on it, these development strike at the very viability of the…

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