India's Coal Power Generation To Increase At 4.6% Till 2024 Says IEA

In 2019, global coal power generation will experience the biggest drop ever and coal power generation in India will probably decline for the first time in 45 years, according to according to the International Energy Agency's latest market analysis and forecasts. Coal still fuels India's robust economic growth. India aims to become an economy of USD 5 trillion by 2024, in part by investing heavily in infrastructure. This will boost energy demand for industry and, especially, for electricity production. Although India has succeeded in bringing some form of electricity access to almost all of its citizens, the country's per capita power consumption is still low, giving it significant scope to grow. Power generation from renewables is forecast to expand strongly, with wind capacity doubling and solar photovoltaics (PV) increasing fourfold between 2018 and 2024. But that is not enough to prevent coal power generation increasing by 4.6% per year through 2024.

Powered by Capital Market - Live News