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Wednesday
January 2
2019

India cancels plans for huge coal power stations as solar energy prices hit record low

By Ian Johnston

India has cancelled plans to build nearly 14 gigawatts of coal-fired power stations – about the same as the total amount in the UK – with the price for solar electricity “free falling” to levels once considered impossible.

Analyst Tim Buckley said the shift away from the dirtiest fossil fuel and towards solar in India would have “profound” implications on global energy markets.

According to his article on the Institute for Energy Economics and Financial Analysis’s website, 13.7GW of planned coal power projects have been cancelled so far this month – in a stark indication of the pace of change.

Photo courtesy of James Moran.

Source: The Independent (link opens in a new window)

Categories
Energy
Tags
emerging economies, emerging markets, energy sector, fossil fuels, renewable energy, solar energy
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