 "electricity")
The electricity sector in India is poised at a special moment. Despite what policymakers in India might have desired, thermal electricity capacity has stalled. The data from the Central Electricity Authority shows thermal capacity rose from 100 Gw in 2005 to 300 Gw in 2018, and essentially stalled there. The CMIE (Centre for Monitoring Indian Economy) capex projects completion data similarly shows a stall from 2019 onwards.
The infrastructure financing community in Bombay knows that it is no longer possible to obtain financial closure for a thermal-power plant. We are now in a globally integrated financial system, and the ESG
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