India Cancels 14 Gigawatts of Coal Power Station Plans
BUILT IN 8 MONTHS FROM SOLAR MODULES: India confirmed last November that it completed its solar farm in Kamuthi, Tamil Nadu, and it is taking the title of ‘the world’s largest solar power plant’ with a capacity of 648 Megawatts – significantly more than the previous largest solar farm, the Topaz Solar Farm in California with a capacity of 550MW. Click here for more…
“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.”
According to Mr Buckley, Director of Energy Finance studies at the Institute for Energy Economics and Financial Analysis (IEEFA), at the time, analysts thought such low prices would never be repeated.
“For the first time solar is cheaper than coal in India and the implications this has for transforming global energy markets is profound,” he said.
“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.”
Read the full article HERE.