At least 13.7GW of planned coal-fired power plants have been cancelled in India this month, while solar prices have tumbled to new lows, showing that India’s energy transformation is in full swing, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
Tim Buckley, IEEFA director, told PV Tech that the timing of the coal cancellations and the new solar price records – as low as INR2.44/kWh – are only coincidental, but they are proof that energy minister Piyush Goyal’s strategy to transform the country’s energy system is making strong progress. While breakthroughs in solar have not been the sole factor in the coal cancellations, they have been the major contributor. Read More…
Credit By: PV Tech
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