Coal share in India’s total installed capacity falls below 50% in FY24: CEEW
Notable because
Since FY16, coal-based annual capacity addition has been steadily declining. The coal share in the total installed capacity dipped below 50% in FY24. While 5.7 GW of coal capacity was added in FY24, a higher figure than previous years, the robust growth of RE capacity addition outpaced that of coal. As a result, non-fossil-fuel-based sources now account for a significant 45 per cent of India’s installed capacity, in line with its 2030 goals.
What to look out for in the months ahead
Despite the declining share of coal in the installed capacity mix, the RE + hydro share in India’s generation mix remains significantly lower, at only 20%. With peak power demand crossing 240 GW in the summer months of FY24, the reliance on fossil-fuel-based resources continued as gas-based plants were mandated to operate. How soon will it be before RE + storage can meaningfully contribute in meeting the country’s increasing peak power demand?