India likely to increase its coal power production capacity by 25%, by 2030

Without a significant reduction in the cost of electricity storage, the third-largest emitter of greenhouse emissions in the world will increase its coal generating capacity by roughly 56 gigawatts

September 23, 2022 12:08 IST | India Infoline News Service
India intends to add roughly a quarter more coal-fired by the end of the decade as it continues to rely on coal to fulfil rising demand until the cost of energy storage decreases.
Power Minister Raj Kumar Singh stated this week in an interview in New Delhi that the third-largest emitter of greenhouse gases in the world will install roughly 56 gigawatts of coal power capacity unless there is a significant decrease in the cost of storing electricity. According to him, India is also preparing significant investments in renewable energy, but it must put dependable power supply first in order to promote economic growth.

The proposal highlights how, as nations plot, their energy transition routes, climate ambitions, and energy security issues are competing for attention. After Russian gas supplies decreased as a result of the invasion of Ukraine, coal is seeing a resurgence in Europe. India is postponing the closure of aging coal plants and expanding mining production as a result of the summer's record-high temperatures there.

In the end, Singh stated, "I will not compromise on my growth." He went on to say that India would not think twice about importing coal to make up for any shortages in the local market. "Power must continue to be available."
As the nation strives to achieve net zero by 2070, Singh said his ministry is also working toward a goal set last year by Prime Minister Narendra Modi to have 500 gigawatts of clean electricity capacity by 2030. According to him, India's overall goal is to increase its total generation capacity from all sources to 820 gigawatts by 2030.
India would require access to more affordable energy storage options in order to turn renewable energy sources into 24/7 clean electricity, according to Singh, who also indicated that his ministry will increasingly seek investment in such projects.

He cited the developed world as having underinvested in storage technology and other decarbonization strategies, and he expressed concern about China's control over the majority of the world's lithium resources. In response to China's hegemony over the vital battery metal, Singh remarked, "It scares us. However, there are other potential technologies that have recently developed, particularly for grid-scale storage. If that occurs, the need for fossil fuels will vanish more quickly.

For feedback and suggestions, write to us at editorial@iifl.com

FREE Benefits Worth 5,000



Open Demat Account
  • 0

    Per Order for ETF & Mutual Funds Brokerage

  • 20

    Per Order for Delivery, Intraday, F&O, Currency & Commodity