Energy vision document: 85% energy needs from green sources
STORIES, ANALYSES, EXPERT VIEWS
According to official sources, a 25-year vision document has proposed replacing coal-based power generation capacity by stepping up the installed renewal energy generation base to 85% of the total requirement at an investment of '60 lakh crore. Based on this, coal’s contribution will drop to a 10th by 2047 from more than half now. The estimated investment requirement is for 1,125 GW of renewable energy capacity and domestic manufacturing of 50 GW of renewable energy equipment by 2047, raising the prospect of a big boost for such utilities.
According to the proposal prepared by the renewable energy ministry, coal-fired capacity will initially rise to 267 GW by 2030 from the present 210 GW and, subsequently, decline to 140 GW by 2047. Coal-fired power stations with a capacity of 40 GW are currently being built. The vision document implies India will freeze its coal-based power generation capacity and phase out such plants as they age.
Coal now accounts for close to 53% of the total 393 GW installed capacity.
