Government support and public money investment into coal is the only factor keeping India away from shrinking its coal capacity. The latest data shows that private sector has taken a step back and almost all coal-fired power plants which are under construction belong to the public sector.
According to the latest ‘Boom and Bust’ report released by various organizations across the globe including Global Energy Monitor, Sierra Club, Centre For Research on Energy and Clean Air (CREA), Climate Risk Horizons, GreenID and Ekosfer, the report highlights that in 2020, India was second to China in commission and development of coal power. “However, the difference between the two countries is large and growing: while China continues to grow its coal power capacity and proposals, India may well be on the verge of shrinking its coal fleet,” the report states.
A steep increase in coal plant development in China offset a retreat from coal in the rest of the world in 2020, resulting in the first increase in global coal capacity development since 2015. The country commissioned 38.4 gigawatt (GW) of new coal plants in 2020, comprising 76% of the global total.