India abandons 14GW of coal as solar price drops

31/05/2017 08:38 Coal

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India has annulled plans to install approximately 14GW of coal generation as solar prices drop.
 

The Director of Energy Finance Studies at the Institute for Energy Economics and Financial Analysis (IEEFA), Tim Buckley, declared the move from carbon-intensive fossil fuel generation is likely to have an important effect on energy markets across the world.
 

He stated 13.7GW of programmed coal power plants have been abandoned this month.


In January 2016, a Finnish firm named Fortum apparently began producing solar electricity in Rajasthan at record low prices, causing a change in how new energy installations across the country are perceived.

 

According to him, India’s solar tariffs have “literally been free falling” in recent months and mentioned that investors from all over the world are interested in the fast-developing market.


The Asian Development Bank (ADB) has released green bonds to back climate change mitigation and renewable energy in India.

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