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Source: Pixabay

India Cancels Big Initiative For Coal Power Stations

By Brian Spaen

Solar prices have been falling across the world, which has caused a dramatic shift in power station production. India has seen that decrease, and because of it, they will no longer be building coal-fueled power stations that would have totaled at 13.7 gigawatts of energy.

Tim Buckley, Director of Energy Finance Studies at the Institute for Energy Economics and Financial Analysis (IEEFA), explained how big this change was to The Independent.

“For the first time solar is cheaper than coal in India and the implications this has for transforming global energy markets is profound...Measures taken by the Indian Government to improve energy efficiency coupled with ambitious renewable energy targets and the plummeting cost of solar has had an impact on existing as well as proposed coal fired power plants, rendering an increasing number as financially unviable."