NTPC a key enabler of India’s electricity transformation

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A recent Morgan Stanley report has downgraded the Indian utilities industry. It highlighted that renewable energy is becoming so cheap that thermal power, mostly coal, is uncompetitive.

This is a highly significant market signal which will likely be accompanied by growth in the already impressive list of high calibre international investors moving into India’s renewables sector, including from Japan, the Netherlands, Italy, China, France, Australia, Singapore, Hong Kong and Canada.

The Institute for Energy Eonomics and Financial Analysis (IEEFA) has long predicted India’s growing global leadership role in the transformation to a low carbon economy. But it is happening at a speed faster than we dared to imagine.

India’s draft National Electricity Plan forecasts that 57 per cent of the country’s energy capacity will be from renewables and other zero emissions technologies by 2027. This is well ahead of the Paris target of 40 per cent by 2030.

India’s draft National Electricity Plan forecasts that 57 per cent of the country’s energy capacity will be from renewables and other zero emissions technologies by 2027. This is well ahead of the Paris target of 40 per cent by 2030.

But this is not fundamentally a matter of environmental concern. It is common sense economics since solar is now cheaper than existing coal-fired generations.

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