In India, coal is clearly on its way out. According to the Council on Energy, Environment, and Water, coal-fired power’s share of total installed generation capacity in the country has dropped from a recent high of 62% (FY16 and FY17) to 52% in FY23.
In line with this, the Power Finance Corporation and REC Ltd have significantly reduced their investment in new coal capacity. As India progressively approaches its Net Zero goal of 2070, significant acceleration of the coal phase-out is to be expected.
The space vacated by coal will, of course, be filled by renewable energy sources such as wind and solar, including rooftop solar. However, hydropower, another clean source, is losing market share.
This is a PR Agency Feed; fake checked and edited by Clean-Future Team