India expects to improve its coal power fleet by around a quarter by the end of the decade in order to meet rising demand until energy storage costs decline.
The world’s third-largest emitter of greenhouse emissions would install roughly 56 gigatonnes of coal generating capacity unless the cost of storing electricity falls significantly. India is also making big investments in renewable energy, but he believes that supplying stable power is more important in order to drive economic growth.
The method focuses on how countries’ energy transition approaches are balancing energy security considerations with climate targets. Coal is reviving in Europe after Russian gas supplies were disrupted by the invasion of Ukraine. India, which saw a rise in electricity demand this summer as temperatures reached new highs, is also delaying the closure of aging coal plants and expanding mining output. The developed world for not investing enough in storage technology and other decarbonization solutions, and said that China controlling the bulk of the world’s lithium supplies is a concern.
The power minister stated that his ministry is also pursuing the Prime Minister’s target of 500 GW of clean power capacity by 2030, as the country strives to achieve net zero emissions by 2070. Overall, he stated that India intends to roughly quadruple its generation capacity from all sources to 820 GW by 2030. To turn renewable energy into continuous clean power, India would need cheaper energy storage options, according to Singh, who added that his ministry will increasingly seek investments that mix wind and solar power with storage.