JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
In this year, India will add more new coal power capacity than it has in almost a decade, as the country rushes to deploy generation to meet with increasing electricity demand.
According to the sources, the world’s most populous country predicts to add 15.4 gigawatts in the year through March 2025, the most in nine years.
New Delhi is pursuing ambitious clean-power targets, but the reality of rapid economic growth has prolonged reliance on the dirtiest fossil fuel. Increasingly severe heat waves are making matters worse, pushing electricity consumption to fresh records every year.
Coal still generates about three-quarters of India’s electricity, and the government sees it remaining the mainstay fuel for at least another decade.
India has managed to add more than 100 gigawatts of renewables capacity over the past decade, outpacing growth in thermal power generation. However, insufficient energy storage is holding back expansion of environmentally friendly electricity.
Battery storage is still not affordable in India’s competitive power market and most pumped hydro projects — an alternative storage technology — are still at a nascent stage. Other low-carbon options, such as large dams and nuclear plants are also moving at a slow pace.
India said last year that it plans to add close to 90 gigawatts of coal-fired capacity by 2032, lifting a forecast from just months before by more than half.
The country has 28.5 gigawatts of coal power currently being built and more than 50 gigawatts that are planned to be awarded for construction over the next three years, according to the people. Officials at the country’s power ministry didn’t immediately reply to a request for comment.
Also Read : Odisha to receive 1,463 MW boost in power capacity with NTPC's new projects China updates roadmap for reaching carbon neutrality in steel industry