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India’s Power Pivot as Coal Cracks and Renewables Surge
Despite the lowest coal prices in Asia in four years, India’s coal power generation dipped in May to the lowest since the Covid lockdowns of 2020
India’s lower coal power generation in May was attributed to weaker demand growth due to a lack of heatwaves compared to May last year and economic headwinds. “If the finance catches up, India’s transition could save more emissions by midcentury than Europe and North America combined — while charting the way for emerging economies around the world,” the research noted. “India currently has 234 GW of renewable energy capacity in the pipeline, which will further reduce pressure on thermal resources as solar continues to dominate during peak hours,” CREA analysts said.
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